Forever 21 CEO Steps Down After Less than Two Years

Daniel Kulle, CEO of Forever 21, has stepped down after less than two years in the position, reports WWD. According to an e-mail he sent to colleagues, Kulle said he had resigned the position two weeks ago and plans to take time off “to find out my next move.”

Kulle worked at H&M for 25 years before joining Forever 21 as CEO. Developers Simon Property Group and Brookfield Property Parterns, along with Authentic Brands Group, purchased the fast-fashion brand out of bankruptcy in February 2020 for $81.1 million.

Forever 21 is part of SPARC (Simon Properties Authentic Brands Retail Concepts) Group, which also owns Brooks Brothers, Aeropostale and Eddie Bauer.