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During an annual shareholder meeting on Wednesday, LS&Co. president and CEO Chip Bergh explained the importance of using his platform for good to shareholders who questioned not only his position on political and societal issues, but also why it was a part of the business conversation to begin with. “Business leaders have a responsibility to ensure the safety of their employees, their customers and their communities,” he said. The questions followed a televised interview with Bergh and CNN reporter Poppy Harlow that aired earlier this month, in which he criticized Georgia’s new voting laws, calling them “restrictive” and “racist” and explaining how Levi’s is working with legislators to ensure they aren’t passed in other states. Critics of the new law claim the changes present barriers to voting, and unfairly target people of color. ....
Within its lifetime, Levi’s has seen countless political moments, civil rights movements and even a global health pandemic. But despite this hyper-relevant experience, the company was not immune to the devastating effects of all crises combining at once. Similar to the rest of the industry, the company took a dip in Q2 during the peak of the pandemic’s repercussions. But thanks to its swift recalibration and investment in e-commerce and global strategies, it was able to recover faster than expected in Q3, and is expecting to emerge from the pandemic stronger than ever. “I believe the true character of a company is shown in a time of crisis, and as we have in the past, we will navigate this one by leveraging our strengths and seizing opportunities that will help us continue to thrive over the long-term,” said LS&Co. president and CEO Chip Bergh. ....