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H&M Appoints New CEO as Chairman Steps Down; Company Reports Profit Rise

Executive Summary

H&M announced management changes and FY19 earnings.

  • Stefan Persson will step down as H&M Chairman, to be replaced by current CEO Karl-Johan Persson—who in turn will be replaced by current Chief Operating Officer Helena Helmersson.
  • Under Karl-Johan Perrson’s leadership, H&M grew store numbers aggressively, began selling online in most of its markets and launched a number of additional banners. But, after seeing growth slow, the company launched a turnaround plan in 2018.
  • H&M reported its first annual rise in net profit since 2015.

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