Circulose appoints new leadership following acquisition by Swedish firm Altor.
- Former H&M CEO Helena Helmersson takes on the role of chairman.
- Jonatan Janmark of McKinsey & Company becomes the new CEO.
- Circulose aims for global expansion with Altor’s backing.
- The company focuses on recycling textile waste into new products.
In a significant leadership transition, Circulose, previously known as Renewcell, has appointed Helena Helmersson as chairman and Jonatan Janmark as CEO. This change follows the acquisition of the company’s assets by the Swedish investment firm Altor in June. Helmersson, who served as CEO of H&M Group from 2020 until January 2024, brings extensive experience from her longstanding career with the fashion giant she joined in 1997. Her leadership is expected to steer Circulose towards achieving its ambitious growth objectives.
Jonatan Janmark, a former McKinsey & Company partner with over a decade of experience in the consumer and textile industries, steps into the chief executive role. His expertise is likely to be instrumental in advancing Circulose’s mission of transforming end-of-life textiles into valuable resources.
Altor’s acquisition of Renewcell, which had filed for bankruptcy earlier this year, underscores its commitment to providing the necessary investment for Circulose to develop on a global scale. The company had previously won recognition for its sustainable textile innovations, particularly its product made from recycled garments and textile waste.
Helen Helmersson expressed her enthusiasm, stating: “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 partnership with Altor is seen as a strategic move to leverage their industrial heritage and scaling capabilities.
With its renamed product, Circulose, the company aims to contribute significantly to sustainable fashion by recycling textile waste into new materials. The backing from Altor is expected to bolster its operational and market reach, reinforcing its position as a key player in the textile recycling industry.
The appointment of Helena Helmersson and Jonatan Janmark marks a new chapter for Circulose, driving its sustainable textile objectives on a global scale.
