According to reports, Kulle has not been with the company for at least a couple of weeks and it is unclear who is serving as the interim CEO.
Before joining Forever 21 in February 2020, Kulle spent two decades at rival H&M. At Forever 21, Kulle was tasked with reviving the company’s business after Simon, Brookfield, as well as Authentic Brands Group, acquired the brand out of bankruptcy for $81 million. Earlier this year, Brookfield sold its shares to Sparc Group.
“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, CEO at Sparc Group, a joint venture of Simon Property Group and Authentic Brands Group.
WWD was the first to break the news.