Levi Strauss & Co on Tuesday named current Kohl’s Corp chief executive officer Michelle Gass as its next CEO, replacing Chip Bergh.

Gass will leave Kohl’s in December to become president of Levi’s and will report to Bergh before taking over as chief executive within the next 18 months.

Kohl’s said Tom Kingsbury, a director on the department store chain’s board and former Burlington Stores Inc chief executive, will serve as interim CEO from Dec. 2.

Kohl’s shares rose 11 percent in premarket trading, after it also forecast better-than-expected third-quarter earnings.

By Uday Sampath; Editor: Shounak Dasgupta

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