Michelle Gass To Take The Helm As Levi Strauss' New CEO In 2024, Succeeding Chip Bergh: Details
Portfolio Pulse from Shivani Kumaresan
Levi Strauss & Co (NYSE:LEVI) announced that CEO Chip Bergh will retire on April 26, 2024. Michelle Gass, former CEO of Kohl's Corporation (NYSE:KSS), will succeed him as president and CEO starting January 29, 2024. Bergh will become executive vice chair of the board until his retirement and then serve as a senior advisor until the end of the fiscal year 2024. Bergh is credited with taking Levi Strauss public in 2019 and expanding its brand portfolio.
December 08, 2023 | 11:38 am
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NEUTRAL IMPACT
Michelle Gass, former CEO of Kohl's Corporation, is set to become the president and CEO of Levi Strauss & Co in January 2024.
While the news is more directly related to LEVI, the mention of Gass's previous role at KSS may bring some attention to Kohl's, although it is unlikely to have a significant short-term impact on KSS's stock.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Levi Strauss & Co announced the retirement of CEO Chip Bergh and the appointment of Michelle Gass as the new CEO, effective January 2024. Bergh will remain as executive vice chair until retirement.
CEO transitions are significant for companies but do not always lead to immediate stock price movements. The market may adopt a 'wait and see' approach to assess Gass's impact on LEVI's strategy and performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100