H&M’s retiring CEO Karl-Johan Persson, new CEO Helena Helmersson at a press conference.
Karl-Johan replaces his father, 72-year-old outgoing chairman Stefan Persson, marking a shift to a younger generation at the top of the company. Big investments in logistics, digital technology, new store concepts and independent brands to meet changing shopping habits and tougher competition helped push annual net sales 11% higher in Swedish crowns.
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