Levi Strauss CEO Says His 'Biggest Regret' Is Not Firing More People Sooner: 'I Held On to Somebody Longer Than I Should Have' Charles Bergh will step down as CEO of Levi Strauss next year.

By Emily Rella

Key Takeaways

  • Levi Strauss CEO Charles Bergh took over the company in September 2011.
  • Bergh spoke with CNBC about his strategy then to turn the company around.
  • He said that his "biggest regret" was not firing certain people sooner.

Opinions expressed by Entrepreneur contributors are their own.

In the wake of mass layoffs and a volatile job market, many CEOs say making cuts and restructuring decisions can be tough.

But for Levi Strauss CEO Charles Bergh, there's nothing tough about it.

In a new interview with CNBC, Bergh claims that he fired more than half of the top executives at the company when he took over in September 2011.

"The easiest way to change the culture is to change the people. I had 11 direct reports, and in the first 18 months, nine of them were gone," Bergh told CNBC in an interview.

Profile shoot of Charles V Bergh, President & Chief Executive Officer of Levi Strauss & Co. (Getty Images)

When Bergh took over as CEO, the company was trying to resonate with younger buyers.

"The company's performance had been really erratic for more than 10 years," he said. "One year the revenues would go up, but the profits would go down. The next year, they would fix the profits, but the revenues went down."

But as Bergh implemented changes to the company's business model, he told CNBC that his biggest regret was that he didn't let enough people go soon enough.

"My biggest regret is that we didn't lean into some of these great leaders, and we lost some because I held on to somebody longer than I should have," he said bluntly.

Bergh is set to step down as CEO next year. He will be succeeded by former Kohl's CEO Michelle Gass.

Related: Levi's AI Models, Meant to Up Diversity, Raise Serious Questions

Levi Strauss is coming off a rougher-than-expected Q2 2023 after reporting a high drop off in wholesale revenue and soft sales in its U.S. market.

Overall sales were $1.34 billion, a 9% decrease from the $1.47 billion in sales the company saw at the same time last year.

Levi Strauss was down just over 18.6% in a one-year period as of Wednesday afternoon.

Related: Rare Vintage Levi's Sell for More Than $87,000 at Auction

Emily Rella

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Here's What Companies and Services Are Open and Closed on Juneteenth 2025

Juneteenth was designated as a federal holiday in the U.S. in 2021.

Growing a Business

There's a Hidden Cost of Overnight Growth — Here's What It Is and Why Slow and Steady Wins the Race

Growth that lasts isn't about the moment or the initial hype. It's about what happens in the months and years that follow.

Marketing

Why This Sports Festival Might Be the Most Ambitious Live Event in America

Fanatics Fest is redefining live sports events by blending culture, entertainment and fan experiences into an immersive festival unlike anything the sports world has seen.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business Solutions

Upgrade Your Workflow With Two Essential Microsoft Tools for Just $55

Outfit your PC with Microsoft Office Pro 2021 and Windows 11 Pro — lifetime licenses that boost both your productivity and security.

Business Culture

Why Hustle Culture Is the Most Dangerous Lie Founders Still Believe

Research shows productivity drastically declines after working 44 hours per week or more. So why is hustle culture still pushed in entrepreneur circles? It's time to forget that mentality and lead like a real hustler.