From 1st July 2009 Karl-Johan Persson assumes the new CEO of Hennes & Mauritz. The Board of Directors has appointed Karl-Johan Persson replacing Rolf Eriksen who will retire during 2009. Karl-Johan Persson has had an operational role within H&M since 2005 and is today Head of Expansion, Business development and Brand and new business.
A committee within the Board of Directors, consisting of Stefan Persson, Melker Schˆrling and Bo Lundquist, has reviewed the CEO question during a number of months. The Board of Directors has concluded that Karl-Johan Persson has the background, qualifications and experience that are required to manage H&M going forward. Karl-Johan Persson has in depth knowledge of the company understands the corporate culture and has excellent leadership qualities.
Karl-Johan Persson has been a board member of H&M's subsidiaries in Denmark, Germany, the US and the UK since 2000 and in 2006 he was elected board member of H&M's parent company. During the spring Karl-Johan Persson will be working in close cooperation with Rolf Eriksen.
H & M was established in Sweden in 1947. The company's business concept is to offer fashion and quality at the best price.