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H&M Names Helena Helmersson Chief Executive Officer

PARIS — H&M named Helena Helmersson its new chief executive officer, tapping a long time executive who was most recently chief operating officer. She replaces Karl-Johan Persson, who will become chairman of the board. The move comes as Stefan Persson steps down after two decades in the position.  The announcement of the leadership change followed the Swedish fast-fashion retailer’s report of a 9 percent increase in gross profit, to 33.29 billion Swedish kronor, or $3.46 billion over the fourth quarter, with the group crediting more full-priced sales as contributing to the performance. The company in December reported a 9 percent increase in sales over the fourth quarter, helped by favorable exchange rates. H&M has been overhauling operations, investing in technology and logistics and revisiting store formats.  “The H&M group’s transformation work continues to bear fruit,” said Persson, citing more full-priced sales and fewer markdowns as contributing to improved profit for the full year. Helmersson joined the company in 1997 as an economist in the buying department. She also held the roles of sustainability officer and production manager, based in Hong Kong. For the past year, she has been responsible for logistics, production and other technology-related functions as chief operating officer.

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