H&M proposes Helena Saxon replaces Niklas Zennstrom on its board

STOCKHOLM (Reuters) – Swedish fashion retailer H&M said on Wednesday its nomination committee proposes Helena Saxon as a new board member.

H&M said in a statement that Saxon, current chief financial officer at Swedish investment group Investor AB and a board member of bank SEB, would replace Skype founder Niklas Zennstrom who declined re-election.

(This story has been corrected to say ‘current’, not ‘former’, in paragraph 2)

(Reporting by Anna Ringstrom, editing by Essi Lehto and Louise Rasmussen)