Levi’s CEO Chip Bergh is stepping down and passing the baton to Michelle Gass, former CEO of Kohl’s. The leadership transition is set to take place on January 29, 2024, with Gass officially assuming the role of CEO. Bergh will retire on April 26 but will stay on as executive vice chair of the board until then. Post-retirement, he will serve as an advisor until the end of the fiscal year.

Bergh, who took over as Levi’s CEO in 2011, is credited with transforming the company into a direct-to-consumer powerhouse and leading it through a successful initial public offering in March 2019. Under his leadership, Levi’s expanded its product offerings, acquired Beyond Yoga, and focused on becoming a more omni-channel and direct-to-consumer retailer.

During Bergh’s tenure, Levi’s brand remained strong and relevant, overcoming the challenges posed by its 170-year legacy. His strategic perspective and contributions to the company’s transformation will continue as he serves on the board.

Gass, appointed as Levi’s next CEO in November 2022, has been with the company since January, leading the Levi’s brand and overseeing product, merchandising, marketing, digital operations, and global commercial functions. She is determined to drive international growth and transition the company into a direct-to-consumer-focused organization.

Levi’s, like many retailers, has faced challenges amid consumer spending constraints caused by inflation. The company revised its full-year sales forecast in October, expecting net revenues to be flat to up 1% for the year.

Bergh expressed confidence in Gass, stating that her experience, innovative approach, and passion for the business position Levi’s for sustainable, profitable growth and value creation for shareholders and stakeholders. Gass, in turn, expressed her honor in leading the iconic brand and emphasized Levi’s cultural significance and enduring symbol of quality, innovation, and progress.