Who is Helena Helmersson? Daniel Ervér takes over as H&M CEO steps down amid sales drop

H&M's CEO, Daniel Ervér, joined the firm recently after Helena Helmersson suddenly left on Wednesday, January 31. This happened after the Swedish apparel giant had trouble increasing sales and profitability.

The retailer's stock has experienced an 8% decline. Furthermore, the business no longer exhibits the momentum for sales growth that it had in the first half of last year. The business has been battling this issue for many years now.

Helena Helmersson, the CEO, resigned amid this continuous battle with declining sales. As per sources like the NY Post, after four years in the top position, she informed the reporters that she had decided to leave the company because she did not have the energy to continue in the "very demanding" function.

Sweden-born Helena Helmersson was born in 1973 and is now an executive in the business world. She joined the Swedish retail clothing firm H&M in 2010 as head of sustainability and became the CEO in 2020.

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Helena Helmersson recently stepped down as the H&M CEO, employing Daniel Ervér

H&M is currently facing the issues of sales drop (Image via Instagram / hm)

Helmersson was raised in Skellefteå, a northern Swedish town. She earned her master's degree in international business administration from the Umeå School of Business and Economics in 1997.

She started at H&M in 1997 as a section manager and moved to Dhaka, Bangladesh, in 2007 to take up the production manager position. She later oversaw their pants production department in Hong Kong for a while before returning to Stockholm in 2010 to take on the supply and social responsibility manager role.

The weekly business magazine Veckans Affärer named Helmersson Sweden's "Most Powerful Woman in Business" on March 5, 2014. According to sources like Hidayat Rizvi, Helmersson has made multiple efforts to enhance the company's sustainability.

Helena Helmersson started in the procurement office as a budget controller. She was named chief sustainability officer in 2010 and remained in that role until she was elevated to global head of manufacturing at the start of 2015.

She was named H&M's CEO on January 30, 2020. Improvements to the supply chain's social and environmental sustainability were part of Helmersson's duties. However, it was announced on January 31, 2024, that Daniel Ervér would succeed her as H&M's CEO.

According to sites such as Hidayat Rizvi, Helena Helmersson was renowned for her moral leadership approach and has revolutionized the fashion business. Her dedication to sustainability and ethical corporate conduct as CEO of H&M has raised the bar for multinational corporations.

In addition, her leadership style as CEO of H&M provided essential guidance for companies trying to negotiate the intricacies of the contemporary global marketplace.

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H&M has been dealing with the issues of sales drop

Daniel Erver was unexpectedly named chief executive officer by Hennes & Mauritz AB, or H&M. This move shocked the investors after the Swedish fast-fashion company had difficulty increasing profitability under Helena Helmersson.

The announcement of the leadership shift came after H&M's sales declined 4% in December and January compared to the prior year.

Erver assumed leadership during the brand's battle with its sales index. He has worked for H&M for 18 years. He most recently oversaw the company's leading H&M brand, a position he will continue to hold in addition to his CEO position.