BlackRock CEO Larry Fink Earns $37.7 Million in 2025 Amid Record Growth 
Reflection AI Eyes $25 Billion Valuation in Massive $2.5 Billion Funding Round 
Merck's $6 Billion Bid for Terns Pharma Signals Bold Oncology Push 
Innate Pharma Reports 55% Revenue Drop and €49.2M Net Loss for 2025 
Unilever and Magnum Face Defamation Lawsuit Over Ben & Jerry's Board Chair Dismissal 
Nomura Upgrades PDD Holdings to Buy, Calls Stock Too Cheap to Ignore 
Novartis to Acquire Biotech Firm Excellergy in $2 Billion Deal 
SK Hynix Eyes Up to $14 Billion U.S. IPO to Fund AI Chip Expansion 
Meta Ties Executive Pay to Aggressive Stock Price Targets in Major Retention Push 
Brown-Forman and Pernod Ricard in Merger Talks to Create World's Largest Spirits Giant 
SpaceX IPO Filing Expected This Week as Valuation Could Surpass $75 Billion 
Lynas Rare Earths Signs Vietnam Deal with LS Eco Energy to Boost Magnet Metal Production 
Brazil Meat Exports Weather Iran War Disruptions With Rerouted Shipments 
Russell 1000 Companies Hit $2.2T Cash Record While Aggressively Reinvesting in Growth 
Google's TurboQuant Algorithm Sends Memory Chip Stocks Tumbling 
Cybersecurity Stocks Tumble After Anthropic's Claude Mythos AI Leak Sparks Market Fears 
Levi Strauss & Co. clothing company revealed a major leadership change as it announced that its chief executive officer, Chip Bergh, is set to step down in January. As the CEO quits, the company appointed Michelle Gass as his replacement.
Gass is the former chief of Kohl's, and she will officially take over the chief role on Jan. 29, 2024. On the other hand, Bergh is leaving as he is set to retire on Apr. 26. Until his official retirement, Bergh will stay at Levi's as the executive vice chair of the board.
Bergh's Achievements as CEO at Levi Strauss & Co.
According to CNBC, once the CEO retires, he will remain in the company to serve as an advisor until the end of the fiscal year. Bergh has been serving the company as CEO since 2011, and during his leadership, he has many achievements as a leader.
Some of his remarkable works include leading Levi's through its initial public offering in March 2019. He was also behind the acquisition of Beyond Yoga and the brand's venture into more profound expansion of women's product offerings. In any case, it was noted that the outgoing chief is one of the few people who run the business and has no relation to the company's founder, Levi Strauss.
About Michelle Gass: The New Levi's CEO
It was revealed that the company appointed Gass as its next leader as early as November 2022. Gass joined Levi's in January and supervised the brand's marketing, merchandising, and products. She also oversaw the firm's digital and global operations. Associated Press News reported that Levi's shared Gass has been focusing on bolstering international growth and aiming to position the brand as a full denim lifestyle clothing business.
"We would like to thank Chip for his inspirational leadership and unwavering commitment to the company over the last 12-plus years," Levi Strauss's chairman of the Board of Directors, Bob Eckert, said in a press release. "Chip has transformed this company and will leave it far better than when he arrived. I know we will continue to benefit from Chip's strategic perspective as he continues to serve on the company's board."
He added, "We are thrilled to have Michelle become LS&Co.'s next CEO. Over the last year, we have seen Michelle's significant impact on sharpening Levi's brand vision as a 'denim lifestyle' leader while positioning it to respond to fast-changing consumer needs and expectations across global markets. We are confident that Michelle's extensive retail and omnichannel experience will position LS&Co. to thrive in its next phase of growth."
Photo by: Varun Gaba/Unsplash
