H&M’s chief executive Helena Helmersson has quit after little more than four years in the top job as the Swedish fast-fashion group struggles to lift profitability.
Helmersson will be replaced by Daniel Ervér, the 42-year-old head of H&M’s main brand and an 18-year company veteran, the Swedish group said on Wednesday.
The purveyor of cheap chic has suffered from falling profit margins for more than a decade and surrendered its status as the world’s largest fashion retailer by sales to Inditex, the Spanish owner of Zara.
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