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THE WHAT? H&M Group has named Daniel Erver as President and CEO, efficient instantly. The 42-year-old has labored for the corporate for the previous 18 years, most just lately liable for the H&M model, a place he’ll proceed to carry.
THE DETAILS Erver replaces Helena Helmersson who has led the group for the previous 4 years. “I’m each honored and really completely satisfied for the board’s confidence and motivated and humbled by the duty,” mentioned Erver.
THE WHY? The change is extensively thought of ‘sudden’ and is reported to have shocked the markets. In a press launch, Helmersson revealed that the position has been ‘very demanding’ and it was time to depart.
Karl-Johan Persson, Chair of the H&M group, feedback, “The board of administrators wish to categorical an enormous thanks to Helena for her invaluable contributions throughout a really intense time. Helena is an appreciated chief that has decisively and successfully led and navigated the H&M group via a time largely marked by pandemic, geopolitical and macro-economic challenges.
“As Helena has now chosen to depart the CEO position, we’re happy to nominate Daniel as CEO of the H&M group. Daniel is a reliable, skilled and revered chief and has the qualities wanted to proceed to develop the H&M group.”
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