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Levi Strauss & Co. stated Thursday that its CEO will step down in January and hand over the reigns of the denims maker to his appointed successor.
Chip Bergh, 66, will cede the CEO job to Michelle Gass, 55, who left her CEO function at Kohl’s to develop into president of Levi’s in January of this yr.
Bergh, who took over on the San Francisco firm in September 2011, will keep on as government vice chair till he retires in late April, Levi Strauss stated. He’ll stay on as an advisor by way of the top of the fiscal yr.
Gass will tackle the CEO place on January 29. The transfer completes the succession plan that was introduced simply over a yr in the past, when Levi Strauss had stated Gass was becoming a member of the corporate to succeed Bergh inside 18 months.
Over the course of his tenure, Bergh moved the model from a predominantly males’s U.S. wholesale pants enterprise to a worldwide, direct-to-consumer firm. He additionally reinvigorated the ladies’s enterprise. Beneath his management, Levi Strauss returned to the general public markets with a profitable IPO in March 2019 and expanded the corporate’s model portfolio with the acquisition of Past Yoga in 2021.
Previous to becoming a member of Levi Strauss, Bergh served in prime roles at Procter & Gamble throughout a 21-year tenure. Since beginning as president of Levi’s, Gass has been answerable for main the Levi’s model, together with its product, merchandising, and advertising features, in addition to the corporate’s e-commerce and international business operations, whereas working carefully with Bergh. The corporate stated Gass has been targeted on accelerating worldwide development, positioning the model as a head-to-toe denim life-style clothes enterprise.
—By Anne D’Innocenzio, Related Press
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