Geneva — Only 14 months into the role, Hennes & Mauritz (H&M) CEO Helena Helmersson has already suffered more challenges than some long-time CEOs face during their careers.

She faces the brunt of the Chinese government’s ire against clothing retailers who criticise human rights abuses in the cotton-producing Xinjiang region. The timing couldn’t be worse for Helmersson, who’s been busy navigating mass store closures amid pandemic lockdowns while trying to manage its stockpile of clothes...