Levi Strauss & Co.
LEVI,
said late Thursday that Chief Executive Chip Bergh will be retiring on April 26, and that, ahead of his departure, the company’s board has chosen Michelle Gass, the company president, as his successor. Gass will take the reins on Jan. 29, Levi Strauss said. Gass is a former CEO of Kohl’s and joined Levi Strauss last year. Bergh will remain as the board’s executive vice chair until his retirement date and then transition to the role of senior adviser through the end of fiscal 2024, the company said. Shares of Levi Strauss rose 1.4% after the news and following an advance of 0.9% in the regular session.
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