Pressure at H&M’s AGM

Clothing giant H&M’s AGM on Wednesday was the ninth under Karl-Johan Persson as CEO. He is now one of the longest serving CEOs on the OMXS30. However investors with shares in H&M during his steerage have made a bad deal. The shares have had an annual total return of under seven per cent, which is eleven percentage points lower than the annual return of the Stockholm stock market total return index, SIX Return.

To boost confidence institutional owners want DI to report more information about the progress of the company’s concept brands (see SPR 10/5 Early Ed.). Neither chair Stefan Persson or CEO Karl-Johan Persson gave interviews at the AGM, but Karl-Johan Persson said, “We listen to good ideas, take them in and discuss whether we can do better. It is always a balancing act. We think that it is most important for the shareholders that we have lots of focus on the customers and the business. We have annual and biannual press conference when I meet investors and analysts.”