H&M Group Appointed Helena Helmersson As New CEO

After over 20 years as chairman of the board of directors, StefanPersson said it would no longer participate in the reelection at the annual general meeting of shareholders in May 7, 2020, and hoped that Karl-JohanPersson would be the chairman of the board of directors at the annual general meeting.

The board then decided that HelenaHelmersson would succeed Karl-Johan's current position, namely, the group CEO of H&MHennes&MauritzAB.

StefanPersson said: "I hope to retire as chairman of the board at the upcoming annual general meeting, and will be succeeded by Karl-Johan. After twenty years in the post, passing it to Karl-Johan, which has served as group CEO for more than 10 years, is a natural transition. I will continue to do my best to serve H&M as a group owner, just as I am now. In addition, our profit is improving gradually, taking many famous brands as a strong market position, and having tens of millions of global customers and good financial standing. This is the best time to make this change. We have developed from a single brand to a multi Brand Company with nine brands. In recent years, we have made considerable and necessary investments in the multidisciplinary group infrastructure based on logistics, technology, data and artificial intelligence. These investments are now beginning to bring us rewards in terms of customer satisfaction, sales and profitability.

StefanPersson will submit his proposal to the nomination committee. After StefanPersson decided to leave office, Karl-JohanPersson also decided to resign from CEO. The board has decided to appoint COO as HelenaHelmersson's successor to Karl-Johan. HelenaHelmersson officially became H&MHennes&MauritzAB's group CEO in January 30, 2020.

"Karl-Johan and his team delivered an amazing answer in laying the foundation for the future development of H&M group. I am confident that he will continue this outstanding performance in the position of chairman of the board. I am very confident of Helena's succession to CEO. She has worked in H&M group for many years and has a solid working background, "StefanPersson said.

HelenaHelmersson was born in 1973 and joined H&M in 1997 as an economic expert in the purchasing department. Since then, he has held multiple positions in the purchasing and production department. Helena has been stationed in Hongkong as a sustainable development manager for five years and later as a production manager. Before becoming CEO, she served as COO (chief operating officer) for over a year, responsible for development, logistics, production, IT, advanced analysis, artificial intelligence, and insight and analysis.

"I have confidence in the Helena of CEO. She is an experienced and excellent leader in adhering to our values. Helena will continue to implement our plan for 2020 and beyond.

I am very proud of my colleagues' great achievements in these years, and I am very happy to work with you to lay the foundation for a bright future.

I am very happy that Stefan has asked me to take an active part in the management affairs of the family Private Held Company RamsburyInvest and propose that I be succeeded as the chairman of the board of H&MHennes&MauritzAB. If the annual shareholder meeting approves the proposal, I will be happy to serve as chairman of the board, "Karl-JohanPersson said.

"I am full of motivation and humility for my current mission. I look forward to working with colleagues to advance the plan, customer focus, and continue to strengthen short-term and long-term financial development. With existing brands and new brands and new ways of cooperation, the company has great potential in business expansion, and there is room for development in leading the industry towards sustainable fashion industry, "HelenaHelmersson said.

Over the years, the group CEO and CFO have maintained close cooperative relations. Therefore, Karl-JohanPersson has invited JyrkiTervonen, H&M group CFO since 2008, to serve as CEO of H&MHennes&MauritzAB parent RamsburyInvest. JyrkiTervonen will formally assume its new post in Ramsbury from July 1, 2020.

Born in 1976, AdamKarlsson, the incumbent of H&M brand financial management and control, will succeed H&M group CFO today. Adam joined H&M group in 2003 as the chief financial officer of the procurement office. Since then, he has been the director of production and financial management and control in Greater China, the head of global production and financial control in Asia, and the head of global financial management and control.

Karl-JohanPersson and JyrkiTervonen will ensure smooth handover and transition before taking on the new position.