H&M CEO quits as sales keep sliding, shares drop
H&M's CEO unexpectedly quit on Wednesday and company veteran Daniel Ervér took over with immediate effect
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H&M's CEO unexpectedly quit on Wednesday and company veteran Daniel Ervér took over with immediate effect
Helena Helmersson, 51, originally joined the Swedish business in 1997, rising through the ranks to become chief operating officer, then CEO four years ago.
Shares in H&M dropped 12% as the company revealed sales for December and January fell by 4% compared to the previous year
The Swedish retail chain said Helena Helmersson has decided to step down as the firm's chief executive officer
H&M Group has named Daniel Ervér as president and CEO, succeeding Helena Helmersson who has decided to step down from the role, as its group operating profit for the full year ending 30 November 2023 has increased to SEK 14,537m (£1,100.28).