Michelle Gass To Take The Helm As Levi Strauss' New CEO In 2024, Succeeding Chip Bergh: Details

Levi Strauss & Co LEVI said President and Chief Executive Officer Chip Bergh has decided to retire from the company, effective April 26, 2024.

The company's board of directors has elected Michelle Gass to succeed Bergh as president and CEO, effective January 29, 2024.

In November 2022, the company appointed Gass to the new president position, putting in motion a succession plan to succeed Bergh as CEO.

Prior to joining LS&Co., Gass served as CEO of Kohl's Corporation KSS, where she led the transformation efforts and elevated notable national brand partnerships, including the long-term partnership with Sephora.

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.

"Chip has transformed this company and will leave it far better than when he arrived," said chairman of the LS&Co. Board of Directors Bob Eckert.

Bergh oversaw the return of Levi Strauss to the public markets with a successful IPO in March 2019 and the expansion of the company's brand portfolio with the acquisition of Beyond Yoga in 2021.

Price Action: LEVI shares closed higher by 0.92% at $15.32 on Thursday.

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