Updated February 1st, 2024 at 14:22 IST
Meet Daniel Ervér, New H&M CEO Who Replaced Helena Helmersson
“I am both honored and very happy for the board’s confidence and motivated and humbled by the task" - Daniel Ervér.
Fashion retail company H&M is currently going through massive change as Helena Helmersson stepped down from the CEO role, stating that the role has been too demanding. The decision came after the group’s sales were down 4% year over year in its most recent quarter, which ended Jan. 29
Daniel Ervér, an experienced H&M employee, who has risen through the ranks in his career spanning a little less than two decades at the company will take over as the CEO.
Who is Daniel Erver?
Ervér’s 18-year career at H&M has taken a huge turn as he has been named the new CEO of the company that ranks number 13 in the Digital Commerce 360s rankings in Europe. Ervér began in a summer trainee capacity in 2005, going on to rise through merchandising and management positions. In his current responsibilities running a brand as huge as H&M, he will face ongoing challenges in a competitive and ruthless fast-fashion landscape.
According to the H&M website, “Daniel Ervér is 42 years old and has worked in the H&M group for 18 years, of which the last four years as responsible for H&M. He started as a summer trainee in 2005 and then became a controller in 2006. Since then, Daniel 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. Daniel has studied a Degree of Master of Science in Business Administration at the University of Gothenburg and an exchange with ESSEC Business School in Paris, France.”
Erver stated in a press release “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." Talking about his immediate goal, he said, "Our focus will be on offering our customers the best combination of fashion, quality, price, and sustainability in an inspiring and attractive shopping environment.”
Helena Helmersson’s surprise resignation
Helena was the company’s first female CEO of H&M, having been appointed in 2020, succeeding the grandson of the company’s founder Erling Persson. In a statement, Helena stated “I am very proud of what we together have achieved during the last years when we have navigated through the pandemic and several geopolitical and macroeconomic challenges." She mentioned about the stress that comes with the coveted job, "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.” said Helmersson said.
Published February 1st, 2024 at 08:37 IST