H&M’s Chairman Says Don’t Look for Big Changes Under New CEO

Hennes & Mauritz AB’s surprise decision to name company veteran Daniel Ervér as its new chief executive officer is unlikely to bring big changes to the fast-fashion group’s strategy, according to its chairman.

“He has the experience, he knows the business, he knows the industry,” Karl-Johan Persson said in an interview Wednesday. “He knows the culture and the values, and is respected internally.”

The 42-year-old Ervér, currently responsible for the H&M brand, is taking over immediately after his predecessor, Helena Helmersson, stepped down.

As head of the biggest brand within the group, accounting for roughly 90% of sales, ...