But the social network’s advertising revenue grew 18.4% during the quarter.
Charles Bergh takes over for John Anderson, who retires after 32 years.
Levi Strauss & Co. said this week that president and CEO John Anderson will retire effective Sept. 1 after working for 32 years with the apparel retailer. Taking over will be Charles Bergh, who comes from consumer goods manufacturer The Procter & Gamble Co., where he was group president, global male grooming.
At his last job, Bergh oversaw the release of Fusion men’s shaving razors, along with marketing campaigns for Old Spice aftershave and other products, according to Levi Strauss. As group president, he supervised all branding efforts and investment decisions for what Levi says is a $7 billion business. He also has experience in directing emerging market strategies, including during a stint when he was based in Asia.
“Chip Bergh is a strategic leader with a proven ability to build and grow brand powerhouses, bring new products to the mass market, develop innovative marketing campaigns, and capitalize on digital platforms to successfully drive brand awareness,” says Richard Kauffman, Levi’s board chairman. “This combined with his track record of operational excellence, disciplined execution, significant international experience, and ability to cultivate high-performing teams will be critical assets to our company as we continue to identify creative ways to meet the ever-changing needs of consumers in markets around the world.”
Bergh also will join the board of the directors of the apparel company, which is No. 351 in the Internet Retailer Top 500 Guide. He also has served on the board of directors for the VF Corp., which is No. 138 in the Top 500 Guide and which recently said it would buy for $2 billion The Timberland Co., No. 368.