In connection with the clothing giant H&M submitting its quarterly report on Thursday morning, they come with an unexpected announcement.
Helena Helmersson leaves as president and CEO and Daniel Ervér leaves.
“We on the board would like to extend a big thank you to Helena for her valuable efforts during a very intense time,” says Karl-Johan Persson in a press release.
“As Helena has now chosen to leave the CEO role, we are happy to appoint Daniel as CEO of the H&M Group today. Daniel is a competent, experienced and respected leader and has the qualities needed to continue developing the H&M Group”.
Daniel Ervér is an H&M veteran who has worked within the company for 18 years in various roles. Most recently as responsible for the H&M brand, which is the largest in the group. Although he takes over as CEO of the entire group, he will retain that role.
“I am both honored and very happy about the board’s trust and motivated and humbled by the task,” he says in a press release.
“Together with all committed colleagues, we will continue to create unbeatable value for our customers and profitable growth”.
Helmersson leaves on the day
Daniel Ervér takes over as CEO of the group already today and Helena Helmersson has decided to leave the H&M group.
“I spent pretty much my entire working life within the H&M group and am very grateful to have had the opportunity to work in many different parts of the business, in different countries and in different roles,” says Helena Helmersson.
“I am very proud of what we have achieved together in recent years during this intense time as we navigated through a pandemic and several geopolitical and macroeconomic challenges. However, it has at times been a demanding time for me personally and I now feel that it is time to leave the CEO role, which of course has not been an easy decision.”
That’s how it went for H&M
At the same time, H&M presents the figures for the fourth quarter that ended in November.
- Turnover during the fourth quarter amounted to SEK 62,650 million, which was a decrease of 1 percent in local currencies.
- The operating result came in at SEK 4,332 million, slightly lower than what the analysts thought according to Infront’s compilation.
- The dividend is proposed to remain at SEK 6.50.
