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Helena Helmersson resigned after four years as CEO and 26 years at the company, saying that 'it has been very demanding at times for me personally'.
H&M, the world's second-largest listed fashion retailer, has been struggling to compete with the likes of Zara and Shein, both of which have experienced robust sales growth.
H&M's leadership change has come after the company admitted that sales for December and January - the key Holiday season - fell by 4% compared with the prior year.
H&M announced today that its Board of Directors has appointed Daniel Ervér, previously responsible for the H&M brand, as the Group's new CEO. Daniel Ervér succeeds Helena Helmersson, who has decided...
CEO unexpectedly quit on Wednesday and company veteran Daniel Ervér took over with immediate effect, as the Swedish fashion retailer struggles to boost sales and profitability.