Helena Helmersson and Jonatan Janmark take key roles at Circulose, a textile recycling company.
- Helmersson, ex-CEO of H&M Group, will serve as chairman from December.
- Janmark, previously at McKinsey, is appointed CEO, focusing on consumer and textile sectors.
- Circulose, once Renewcell, received a lifeline from Altor after facing bankruptcy.
- Altor’s investment aims to foster Circulose’s global scaling and sustainability efforts.
Helena Helmersson and Jonatan Janmark have been appointed to significant roles at Circulose, a firm committed to textile recycling. Helmersson, who served as CEO of H&M Group until January 2024, will now take on the role of chairman. Her extensive experience within the fashion industry positions her well to guide Circulose’s strategic direction.
Joining her is Jonatan Janmark, formerly a partner at McKinsey & Company, who will assume the position of CEO. Janmark brings over a decade of expertise in the consumer and textile market, reinforcing Circulose’s leadership with solid industry knowledge. They are set to commence their new responsibilities from December 1.
Circulose, previously known as Renewcell, encountered financial difficulties leading to its bankruptcy declaration in February. The Swedish investment firm Altor acquired the remaining assets in June, supporting the company’s rebranding to Circulose. The firm’s primary product remains a textile pulp generated from recycled garments and textile waste comprising natural fibres.
With Altor’s backing, Circulose is set to expand on an international scale, enhancing its contributions to sustainable fashion. Altor’s involvement is poised to bolster Circulose’s capacity in addressing global sustainability challenges within the textile industry.
Helmersson expressed enthusiasm about her new position, emphasising the synergy between her experience and Circulose’s objectives. She stated, “I am thrilled to be joining Circulose and support the company in my role as chair. We have an ambitious agenda ahead of us and a talented team ready to make it happen.” Her collaboration with Altor is anticipated to strengthen Circulose’s industrial foundation and growth prospects.
The strategic appointments at Circulose mark a pivotal step towards advancing sustainable practices in the textile industry.