H&M Group appoints Daniel Ervér to succeed Helena Helmersson as chief executive
H&M Group has announced that Daniel Ervér has become its new president and chief executive.
He has succeeded Helena Helmersson who has decided to step down and leave the business.
Ervér has worked within the group for 18 years, most recently as head of H&M, the largest brand within the group. In his new position, he will continue to be operationally responsible for H&M, which means there will be no appointment for his previous role.
Helmersson has worked for 26 years within the H&M Group and has been chief executive for the last four years.
Karl-Johan Persson, chair of the H&M Group, said: “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 H&M in 2005 as a summer trainee and 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 also led H&M women and men.
H&M has also announced that the group’s net sales increased by 6% in its 2023 financial year to SEK 236.04 billion. It has also seen its operating profit double to SEK 14.54 billion.
The group’s portfolio of brands include H&M, H&M Home, Arket, COS, Weekday, & Other Stories, Monki and Afound.