H&M announces Daniel Ervér as new President and CEO

H&M, the Swedish multinational retail-clothing company, has announced the appointment of Daniel Ervér as its new president and CEO, succeeding Helena Helmersson, who has decided to step down from her role.

Karl-Johan Persson, chair of the H&M group, expressed confidence in Ervér's leadership abilities, citing his competence, experience, and respect within the company. Ervér brings with him 18 years of experience within the H&M group, having served in various roles across different parts of the organization. Most recently, he held the position of head of H&M, the largest brand within the group.
In response to his appointment, Ervér expressed his honor and happiness while acknowledging the trust placed in him by the board. He emphasized the company's commitment to providing customers with unparalleled value, focusing on fashion, quality, price, and sustainability in an engaging shopping environment.

Helena Helmersson, who served as CEO for the past four years and has been with the company for a total of 26 years, expressed mixed feelings about her decision to step down. She highlighted the challenges faced during her tenure, including navigating through the pandemic and other macro-economic difficulties.

H&M, founded in 1947 by Erling Persson, has expanded globally, including entering the Indian market in October 2015. As of November 2023, the brand operates 58 stores across 30 cities in India and offers online shopping through its website, app, and e-commerce marketplace Myntra.