The decision to change leadership at Renewcell was prompted by the company’s recent poor sales performance. The board, recognising a slower-than-anticipated progression in the value chain and subsequent lower sales growth, deemed it “necessary” to appoint a new CEO.

Håkansson, who has extensive experience in leadership roles within the retail and fashion industry and a background in leading publicly traded companies, has officially assumed his new position of acting CEO, taking over from Patrik Lundström, who had served as CEO since 2019.

Michael Berg, chairman of the board of Renewcell said Lundström has played a crucial role in advancing Renewcell from its developmental stages to achieving the milestones of becoming a publicly traded company to factory construction and production.

Håkansson started his professional journey as a management consultant at McKinsey and subsequently occupied various high-level positions within global growth companies in both the retail industry and the pulp sector.

His extensive experience includes years in a listed corporate environment. Notably, Håkansson previously served as the CEO of MediaMarkt Sweden before taking on his new role at Renewcell.

Berg conveyed the board’s confidence in Håkansson’s ability to guide Renewcell through this phase, stating: “His experience from consumer-focused companies and his solid leadership skills will add value to the company in its current phase – focusing on sales to brand companies in the clothing retail sector, where we see continued strong interest.”

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By GlobalData

With the appointment of Håkansson as acting CEO, Renewcell has initiated the process of recruiting a permanent CEO.

In October, Renewcell’s Circulose Supplier Network partnered with India-based textile manufacturer Arvind on new sustainable denim production.

The week prior, Renewcell added new members to its Circulose Supplier Network from Southeast Asia, including Vietnam to advance circular fashion on a global scale.