H&M Group appoints company veteran as chief commercial officer

H&M Group has named Henrik Kroon as its new chief commercial officer. The appointment extends what has already been a long tenure for Kroon at the Swedish fashion giant, which he first joined back in 2010.

Kroon announced his new role on LinkedIn, where he said: “I’m grateful for the opportunity and look forward to working alongside our talented teams as we strengthen our business, build on the momentum we’ve created together and take H&M into the next chapter.”

Kroon had been with telecommunications company Ericsson for nearly six years before he joined H&M as global controller, construction, in 2010. Since then, he has held roles of increasing responsibility, including CFO for H&M Canada, global head of retail space and, most recently, chief commercial development officer.

His appointment comes amid a period of change at H&M, with the company’s founding family having followed through with a major share repurchase programme to once again increase their stake in the business.

Financially, the retail giant is also in a tough spot. In the second quarter of the current fiscal year, the group saw sales drop 3 percent to 54.8 billion Swedish kronor, developing more poorly than planned. Despite this, ongoing restructuring efforts have allowed the company to make progress in increasing profitability, CEO Daniel Ervér said.