Stefan Persson, son of founder Erling, will be no longer president of the H&M board after more than 20 years. He will be replaced by his son Karl-Johan Persson who, in turn, after more than 10 years as CEO, gives way to Helena Helmersson, the group’s COO. In 2019 the Swedish giant closed the last quarter of the year, recording net revenues up 9% to 5.8 billion euros.