Michelle Gass will replace Chip Bergh as Levi Strauss CEO in January
Publishing timestamp: 2023-12-08 05:37:40
Summary
Levi's CEO Chip Bergh is retiring and handing over the position to Michelle Gass, the former CEO of Kohl's. Gass will take over as CEO on January 29th, while Bergh will officially retire on April 26th. Bergh will remain as executive vice chair of the board until his retirement and will serve as an advisor through the end of the fiscal year. Bergh is credited with transforming the company and leading it through its IPO, acquisitions, and expansion into direct-to-consumer sales. Gass aims to continue the company's growth and transition it into a direct-to-consumer first organization. Levi's has faced challenges in sales due to consumer spending constraints and has lowered its sales forecast for the year.
Sentiment: NEUTRAL
Keywords: kohls corp drn, ceo, breaking news: business, business news, levi strauss & co,