Circulose, a textile recycling firm, has announced the appointment of Helena Helmersson, former CEO of H&M, as chairman and Jonatan Janmark as CEO.
- Helmersson brings extensive experience from her tenure at H&M, enhancing Circulose’s global ambitions.
- Janmark joins from McKinsey & Company, contributing his expertise in consumer and textile industries.
- Circulose is poised for growth under new leadership after being acquired by Altor following Renewcell’s bankruptcy.
- The company focuses on innovative textile recycling, producing pulp from end-of-life garments and textile waste.
In a strategic leadership move, Circulose has appointed Helena Helmersson, renowned for her leadership at H&M, as the new chairman. Her role at Circulose, a firm previously known as Renewcell, will leverage her extensive experience to advance its ambitious growth agenda. This appointment marks a significant phase for Circulose, especially following its acquisition by Altor earlier this year.
Joining her is Jonatan Janmark, who steps in as CEO from his previous role as a partner at McKinsey & Company. Janmark brings a wealth of knowledge in the consumer and textile sectors, which will be instrumental in steering Circulose towards achieving its strategic objectives. His leadership is expected to complement the firm’s innovative approach in sustainable textile solutions.
The restructuring under Altor’s ownership comes after Renewcell’s financial difficulties, which culminated in bankruptcy at the beginning of this year. Recognising the potential, Altor acquired the company’s remaining assets and rebranded it as Circulose. Altor’s vision for Circulose includes scaling its operations globally, supported by strategic investments.
Circulose is refocusing its business model around its proprietary product, a textile pulp derived from discarded garments and textile waste containing natural fibres. This innovation not only underscores the firm’s commitment to sustainability but also positions it uniquely in the marketplace. Such advancements are crucial as the textile industry seeks more eco-friendly solutions to garment waste.
Helmersson has expressed her enthusiasm for her new role, highlighting the alignment of Circulose’s mission with her experience in the fashion industry. She stated, “I am thrilled to be joining Circulose and support the company in my role as chair. We have an ambitious agenda and a talented team ready to make it happen.”
The appointments of Helmersson and Janmark signal a new chapter for Circulose, positioning the firm for sustainable growth and industry innovation.
