Forever 21 Chief Executive Resigns

After joining the ailing mall chain in February 2020, Daniel Kulle exited the position almost two weeks ago WWD reports. A retail veteran who joined Forever 21 after 25 years at H&M, Kulle was tasked with reviving the brand immediately following its bankruptcy and joint buyout by Simon Property Group, Authentic Brands Group and Brookfield Property Partners. “We appreciate all that Daniel has contributed throughout his time with the brand and wish him the best in his future endeavors,” said Marc Miller, chief executive of SPARC, the joint venture between Simon Property Group and Authentic Brands Group, in a statement to BoF.

Learn more:

Forever 21 Needs Older Shoppers to Come Back From Bankruptcy

The retailer filed for bankruptcy protection on Sunday, and its turnaround plan relies on luring in shoppers who are actually willing to buy clothes at full price.