Forever 21 names former H&M executive as CEO

Forever 21's new co-owner Authentic Brands Group said on Tuesday it had appointed former H&M executive Daniel Kulle as the new chief executive officer of the bankrupt apparel retailer.

Kulle, a two-decade veteran at the Swedish apparel retailer, most recently worked as strategic adviser to former H&M Group Chief Executive Karl-Johan Persson.

Authentic Brands said earlier this month it had partnered with mall owner Simon Property and Brookfield Property to acquire Forever 21, without disclosing the financial terms of the deal.