Levi Strauss & Co. Announces Executive Leadership Changes
07 Dezembro 2023 - 6:15PM
Business Wire
President & CEO Chip Bergh to Retire
April 26, 2024
Michelle Gass to Become President & CEO
Effective January 29, 2024
Levi Strauss & Co. (LS&Co.) today announced that Chip
Bergh has decided to retire from the company as of April 26, 2024.
In anticipation of Bergh’s retirement, the company’s board of
directors has elected Michelle Gass, currently the company’s
president, to succeed Bergh as president and chief executive
officer effective January 29, 2024, completing the transition plan
announced on November 8, 2022. In addition, the board has elected
Bergh as executive vice chair of the board until his retirement
date. Thereafter, Bergh will transition to the role of senior
advisor until the end of the company’s 2024 fiscal year.
“We would like to thank Chip for his inspirational leadership
and unwavering commitment to the company over the last 12-plus
years,” said Bob Eckert, chairman of the LS&Co. Board of
Directors. “Chip has transformed this company and will leave it far
better than when he arrived. I know we will continue to benefit
from Chip’s strategic perspective as he continues to serve on the
company’s board.”
Over the course of his tenure, Bergh evolved the company into
one of the world’s best apparel companies and advanced the Levi’s®
business from a predominantly men’s U.S. wholesale bottoms business
to a global, DTC-driven one, in addition to reinvigorating the
women's business. Bergh also revitalized the Levi’s® brand,
repositioning it at the center of culture through strategic
initiatives like claiming the naming rights for Levi’s® Stadium and
deepening the brand’s connection to the music industry. Bergh was
also recognized in 2019 as one of the World’s 50 Greatest Leaders
by Fortune magazine. Notably, LS&Co. returned to the public
markets with a successful IPO in March 2019 and expanded the
company’s brand portfolio with the acquisition of Beyond Yoga in
2021.
“It has been an incredible privilege to lead this great company
as CEO for the last 12 years. I want to especially thank my team,
the board of directors and the family shareholders for all their
support through the years,” Bergh said. “The Levi’s® brand is the
strongest it has ever been, and as we pivot to become more of an
omni-channel, direct-to-consumer retailer, it is time for new
leadership. While I’ve known Michelle for more than a decade, my
time working closely with her this past year has given me great
confidence that her experience, track record of innovation and
impact, and passion for the business will position the company for
sustainable, profitable growth and significant shareholder and
stakeholder value creation.”
Eckert added, “We are thrilled to have Michelle become
LS&Co.’s next CEO. This was a well-executed transition that
required great humility and teamwork between Chip and Michelle, and
it couldn’t have gone better. Over the last year, we have seen the
significant impact Michelle has had on sharpening the Levi’s® brand
vision as a ‘denim lifestyle’ leader while also positioning it to
respond to fast-changing consumer needs and expectations across
global markets. We’re confident that Michelle’s extensive retail
and omni-channel experience will position LS&Co. to thrive in
its next phase of growth.”
Since starting as president of LS&Co. in January 2023, Gass
has been responsible for leading the Levi’s® brand, including its
product, merchandising and marketing functions, as well as the
company’s digital and global commercial operations, while working
closely with Bergh. As a former Fortune 500 CEO, Gass has been
focused on accelerating international growth, positioning the
Levi’s® brand as a head-to-toe denim lifestyle apparel business and
transitioning LS&Co.’s operating model to a DTC-first
organization.
“I am honored to be stepping in to lead this iconic brand and
company, one that I have deeply admired and respected for many
years. Levi’s® is more than a denim icon; it’s part of our cultural
fabric and an enduring symbol of quality, innovation and progress,”
Gass said. “In the past year, Chip and I have traveled the globe,
and I’ve had the privilege of meeting many members of the
LS&Co. team. Those interactions have only underscored my
confidence in the incredible potential of our business, the
strength of our brands and the power of the company’s
values-driven, profits-through-principles approach. I am incredibly
excited to lead our amazing team and to realize our ambition of
becoming a world-class direct-to-consumer retailer. As we build on
our 170-year legacy, I’m more confident than ever that we have the
right team and strategies in place to unleash the next era of
sustainable, profitable growth for LS&Co.”
About Levi Strauss & Co.
Levi Strauss & Co. is one of the world's largest brand-name
apparel companies and a global leader in jeanswear. The company
designs and markets jeans, casual wear and related accessories for
men, women and children under the Levi's®, Dockers®, Signature by
Levi Strauss & Co.™, Denizen® and Beyond Yoga® brands. Its
products are sold in more than 110 countries worldwide through a
combination of chain retailers, department stores, online sites and
a global footprint of approximately 3,200 brand-dedicated stores
and shop-in-shops. Levi Strauss & Co.'s reported 2022 net
revenues were $6.2 billion. For more information, go to
http://levistrauss.com, and for financial news and announcements go
to http://investors.levistrauss.com.
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Investor Contact: Aida Orphan Levi Strauss & Co.
(415) 501-6194 Investor-Relations@levi.com
Media Contact: Elizabeth Owen Levi Strauss & Co.
(415) 501-7777 NewsMediaRequests@levi.com
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