Fabian Månsson

"The CEO position is taken over by H&M's director of purchasing, Fabian Månsson – which surprises everyone. Månsson, who studied at the School of Business, Economics and Law, is introduced as a former rock musician. He is only 33 years old, about the same age as Stefan Persson when he left London to take over the CEO position from his father."

"Intensive work has been going on with everything from lease agreements to staff recruitment ahead of the premiere opening. There is great enthusiasm among the staff, who in turn fuel the expectations of the customers. In a press release issued by H&M before the opening, they highlight their seventy own designers and the 300 million garments sold per year. To help, the PR department has enlisted world stars like Isabella Rossellini and Johnny Depp. But just a week before the big opening day, what should not happen happens. Fabian Månsson steps down as CEO of H&M, as suddenly as he was appointed."

"By stepping down as CEO, Stefan Persson hopes to be less in the spotlight himself. In practice, he is still the one who completely controls his growing corporate empire. In the media, Fabian Månsson is even called Stefan Persson's puppet."

"Rolf Eriksen, who drove H&M to record profits after Fabian Månsson's departure, has often guided Karl-Johan Persson around the headquarters and taken him to important meetings. Karl-Johan studied at the European Business School in London. He also started the conference company European Network and runs, among others with the heir to another family dynasty, Finn Rausing, the English company Sportpro Limited which sponsors young sports talents. Three years earlier, he had been elected to the H&M board and he has also been in charge of H&M's expansion."