Levi Strauss & Co. announced that CFO Harmit Singh will transition to Special Advisor and then retire, with the company initiating a search for his successor and Singh remaining through a planned transition until November 30, 2026.
Key takeaways
CFO Harmit Singh will transition to Special Advisor and then retire, with the company commencing a search for his successor.
Singh will continue as CFO until a successor is appointed and remain as Special Advisor through November 30, 2026 to ensure continuity.
Singh will receive $3 million in cash severance payable over 78 weeks, subsidized COBRA coverage for 78 weeks, and other benefits through 2027.
The transition is not due to any disagreements regarding accounting principles, financial statement disclosures, or company policies.
Singh joined the company in 2013 as CFO and expanded his role to include Chief Growth Officer in 2023, contributing to the company's transformation.