H&M Announces Helena Helmersson as First Female CEO
She is also the first non-family member to take the position at the company.
Succeeding Karl-Johan Persson as chief executive of H&M Group, Helena Helmersson has been promoted to the role of CEO, officially becoming the first woman as well as non-member of the Persson family to take this leading position.
The CEO reshuffle came about when Stefan Persson stepped down as Chairman of the company and was succeeded by his son, Karl-Johan Persson. This meant that the Chief Executive Position had become available. Hennes & Mauritz AB have chosen to appoint Helena Helmersson, previously COO at H&M, as the first female CEO at the fast-fashion powerhouse.
Persson’s previous management and decision-making meant that H&M struggled to control competition from cheaper and more innovative rivals. It is hoped that Helmersson will not only drive initiatives to improve sustainability at the fashion company but collaborate with public policymakers and stakeholders in new markets to push sales.
In her new role, Helena Helmersson is considered one of the most powerful women in retail globally. It’ll be interesting to see what her first few moves will be in the company as CEO. Stay tuned as Helmersson takes on the new role.