H&M has promoted Jyrki Tervonen to chief finance officer replacing Leif Persson effective from November.
Persson will continue as an executive board member at H&M but from November, he will focus on strategic company matters.
Tervonen has worked at H&M since 1997. His most recent position was country manager for Finland, Poland, the Czech Republic, Slovakia and Hungary. Tervonen has also been chief finance officer for Finland.