STOCKHOLM – Textile recycler Circulose has announced key leadership appointments as part of its continued turnaround. Helena Helmersson, former CEO of Swedish retail giant H&M Group, has been named chairman of the board. She will officially assume the role on December 1, 2024.
Joining Helmersson is Jonatan Janmark, who will take over as Circulose’s chief executive officer on the same date. The leadership changes follow Circulose’s acquisition by Swedish investment firm Altor earlier this year, which rescued the company from bankruptcy.
Altor’s support has included rebranding the company—formerly known as Renewcell—and providing financing to advance its cotton recycling technology. Clara Zverina, principal at Altor, stressed the importance of experienced leadership for Circulose’s mission to drive a circular textile industry.
“Helena and Jonatan bring unparalleled expertise to Circulose,” Zverina said. “Their leadership is key to ensuring a stable and successful future for the company. We are proud to welcome them as part of our efforts to scale this innovative business.”
Helmersson, who collaborated with Circulose during her time at H&M, expressed her enthusiasm for the role. “Circulose has an ambitious agenda, and joining this journey feels like a natural step for me,” she said. “I’m eager to contribute with my years of experience in the fashion industry.”
Magnus Lundmark, who has served as interim CEO, will continue to oversee operations and support the new leadership team. Zverina praised Lundmark for his work during a challenging year, noting his efforts to stabilise the company after its restructuring.
