Textile recycling company Circulose has appointed former H&M Group CEO and McKinsey & Company partner to lead.
- Helena Helmersson, previously serving as CEO of H&M Group, has been appointed as chairman of Circulose.
- Jonatan Janmark, a seasoned partner at McKinsey, takes the helm as CEO to guide the firm’s new direction.
- Circulose is formerly known as Renewcell, a pioneer in sustainable textile innovations that faced financial challenges.
- Swedish firm Altor has acquired remaining assets of Renewcell, enabling Circulose to expand globally with fresh leadership.
Circulose, a textile recycling firm with a focus on sustainability, has announced significant leadership changes. The company welcomes Helena Helmersson as its new chairman and Jonatan Janmark as its CEO. This strategic move signals Circulose’s commitment to strengthening its position in the textile recycling industry with experienced leadership at its helm.
Helmersson, who joined the H&M Group in 1997, served as the company’s CEO from 2020 until January 2024. Her extensive experience in the fashion industry is seen as a vital asset for Circulose as it seeks to expand its global reach and impact. Helmersson expressed her enthusiasm, stating that she is thrilled to support Circulose alongside Altor, bringing her years of experience to drive the company’s ambitious agenda.
Jonatan Janmark joins as CEO after a successful eleven-year career at McKinsey & Company, where he specialised in the consumer and textile sector. His expertise is anticipated to be crucial in navigating Circulose through its transformation and expansion, aiming to establish the company as a major player in sustainable fashion solutions.
Renewcell, the former identity of Circulose, was acclaimed for its innovative approach in recycling textiles into new fibres but faced financial setbacks leading to a bankruptcy filing earlier this year. Altor, a Swedish investment firm, acquired Renewcell’s remaining assets, rebranding the initiative as Circulose and investing in its future to scale operations globally.
As part of Circulose’s renewed vision, Altor’s investment aims to revitalise the company’s operations and market presence, capitalising on its proprietary recycling technology which turns discarded garments into textile pulp. With an experienced team and strategic backing, Circulose plans to cultivate a substantial influence in the industry.
Helmersson and Janmark’s appointments mark a new chapter for Circulose, poised for growth and innovation in sustainable textile recycling.
