2023-12-07 16:35:28 ET
Levi Strauss ( NYSE: LEVI ) on Thursday said it had elected current president and former Kohl's ( KSS ) top boss Michelle Gass as its new chief executive, completing a previously announced succession plan.
Levi's ( LEVI ) current president & CEO Chip Bergh will retire on April 26, 2024.
Gass will become president and CEO effective January 29, 2024.
Bergh was appointed as LEVI's top boss in September 2011, joining the company from Procter & Gamble ( PG ). Bergh led the iconic jeans maker from a predominantly men's U.S. business to a global, DTC-driven one, in addition to driving growth in the women's business.
Levi ( LEVI ) in November last year announced the hiring of Gass as its new president, with a view for her to eventually take over as chief executive.
"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 ... We’re confident that Michelle’s extensive retail and omni-channel experience will position LS&Co. to thrive in its next phase of growth,” LEVI board chairman Bob Eckert said in a statement .
Class A shares of Levi Strauss ( LEVI ) earlier closed +1% at $15.33.
More on Levi Strauss
- Levi Strauss Q3 Earnings: Sales Disappoint, But Shares Still Attractively Priced
- Levi Strauss & Co. (LEVI) Q3 2023 Earnings Call Transcript
- Levi Strauss & Co: What To Watch Out For When Management Reports Q3 Earnings
- Levi's CEO: No jeans in the washing machine
- Levi Strauss falls after full-year guidance disappoints
For further details see:
Levi Strauss top boss Chip Bergh to retire, Kohl's former CEO Michelle Gass to take over