Levi’s CEO Bergh To Step Down In Jan, Handing Reigns To Ex-Ceo Of Kohl’s
by upasana sarbajna News 08 December 2023
Levi Strauss & Co. has issued a statement saying that the CEO of the company is to step down in January and will be handing over the empire of the jeans maker to the appointed successor.
Chip Bergh, 66, will pass on the position to Michelle Gass, 55, who quit her role as CEO at Kohl’s to take the Presidential position at Levis in the month of January this year.
Bergh, who had taken over the San Francisco brand in September 2011, will be staying on as the executive vice chair until he retires at the end of April, the brand said on Thursday. He will be remaining on as the advisor throughout the end of the fiscal year.
Gass will be taking over the position of the CEO on January 29th. The move would complete the plan of succession, which was announced just a year ago when Levi’s said that Gass was becoming a part of the company to succeed Berh by 18 months.
Over the course of his entire tenure, Bergh had taken the company from being a men’s US wholesale business for pants to a globally acclaimed direct-to-consumer business brand. He also gave new energy to women’s business.
Under his leadership, Levi’s returned to the public market with a pretty successful IPO in March 2019 and had further expanded the brand portfolio of the company with the acquisition of Beyond Yoga in 2021.
Before joining Levi’s, Bergh was serving one of the top roles at Procter & Gamble during his 21-year tenure. Since she started becoming the President of Levi’s, Gass was responsible for leading the brand, which included its products, marketing, and merchandising functions, along with e-commerce and the global commerce operations of the business while working very closely with Bergh. The brand said that Gass had kept her focus on accelerating international growth and positioning the company as a full-fledged denim lifestyle clothing business.