H&M Group appoints Daniel Ervér as new CEO as Helena Helmersson stands down

H&M Group has named Daniel Ervér as its new President & CEO as Helena Helmersson steps down after four years saying she has found the role – which she undertook during the challenging pandemic era – "very demanding at times for me personally".

Ervér has been with the group for 18 years, most recently as head of its flagship brand H&M. He will continue to be operationally responsible for the brands, as well as taking on the group CEO role.

Helmersson stepped up to the CEO role at the group four years ago, taking over from Karl-Johan Persson who is now group Chair, and has been with H&M Group for a total of 26 years. Her decision to leave comes shortly after the group, which also owns COS, ARKET and & Other Stories among other brands, reported sales had dropped by 4% between September and November 2023, which was an improvement on the 10% drop it had forecast, saying unseasonably warm weather had dented demand for autumn ranges.

Of her decision to leave, she said: "I have spent almost my entire professional life in the H&M group and I am very grateful to have had the opportunity to work in many different parts of the business, in different countries and in different roles. It is with mixed feelings that I have informed the board of directors of my decision to leave the CEO role. I am very proud of what we together have achieved during the last years when we have navigated through pandemic, and several geopolitical and macro-economic challenges. However, it has been very demanding at times for me personally and I now feel that it is time to leave the CEO role, which of course has not been an easy decision.

"I have appreciated the great commitment and support of all colleagues and from Karl-Johan and the Board during my time as CEO. I continue to have a strong belief in the company. We have strong brands, a unique corporate culture and high ambitions in sustainability. I will now ensure a good handover, and think about my next step."

Helena Helmersson

Persson commented: "The board of directors would like to express a big thank you to Helena for her valuable contributions during a very intense time. Helena is an appreciated leader that has decisively and effectively led and navigated the H&M group through a time largely marked by pandemic, geopolitical and macro-economic challenges. During this time, we have gradually taken clear steps towards our long-term goals. The H&M group is in a strong position, with a positive profitability trend and good conditions to make further improvements in 2024. As Helena has now chosen to leave the CEO role, we are pleased to appoint Daniel as CEO of the H&M group today. Daniel is a competent, experienced and respected leader and has the qualities needed to continue to develop the H&M group."

Ervér began his career at the group as a summer trainee in 2005 and then became a controller in 2006. Since then, he has been responsible for merchandising at H&M in Germany and the US, country manager for H&M Sweden, purchasing manager for H&M and responsible for H&M women and men. He has a Degree of Master of Science in Business Administration at the University of Gothenburg and an exchange with ESSEC Business School in Paris, France.

Of his appointment he said: "I am both honored and very happy for the board's confidence and motivated and humbled by the task. Together with all committed colleagues, we will continue to create unbeatable value for our customers and profitable growth. Our focus will be on offering our customers the best combination of fashion, quality, price and sustainability in an inspiring and attractive shopping environment."