Some of the regrets that the CEO of Levi Strauss & Co holds involved staffing-related decisions, according to an interview he did with CNBC, published on Wednesday.
He told the outlet he had let go nine out of his 11 direct reports within the first 1.5 years at the company in a bid to prompt change in its direction.
Levi Strauss & Co’s market capitalization came in around $5.16 billion as of Wednesday afternoon, with the value of its shares having experienced a decline of over 18.5% over 12 months.Bergh’s so far 12-year tenure as CEO is expected to come to an end sometime in the future, with former Kohl’s CEO and current Levi Strauss & Co President Michelle Gass slated to move into the top job at that time.
A Levi Strauss & Co. store in Stockholm, Sweden, on Tuesday, June 13, 2023. A price measure that strips out energy costs and the effect of interest-rate changes rose 8.2% from a year earlier, according to data published by Statistics Sweden on WeLevi Strauss & CoIn early July, the company said it had brought in a total of nearly $3.03 billion in net revenues in the first two quarters of the year. It generated $3.06 billion in the same time frame last year.
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