Stefan Persson, Chairman of the H&M board has decided to stand down after more than 20 years. Karl-Johan will succeed him as Chairman of the board and Helena Helmersson will succeed Johan as CEO of H&M Hennes & Mauritz. 

Helena was previously Chief Operating Officer at the group, with responsibility for expansion, logistics, IT, advanced analytics and Ai and insights and analytics. 

Helena said: " I am very incentivized and humble ahead of the task. I look forward to driving the plan forward together with my colleagues, with a focus on the customer to continue strengthening our financial development in the short and long term. There is great potential to expand with existing and new brands, with new types of partnerships and to continue leading the development towards sustainable fashion industry."