SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
Apple App Store Injunction Largely Upheld as Appeals Court Rules on Epic Games Case 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
SoftBank Eyes Switch Inc as It Pushes Deeper Into AI Data Center Expansion 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
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
