Hugo Boss Names Frasers CEO Murray as Chairman of Board
Frasers is increasing its influence at Hugo Boss as it seeks majority control, with Michael Murray replacing Stephan Sturm on the supervisory board.
- On Wednesday, Hugo Boss appointed Frasers Group CEO Michael Murray as chairman of its supervisory board, strengthening the retailer's control over the German fashion group.
- Murray replaces Stephan Sturm, who announced his departure earlier this week, saying it was "the right time for an orderly transition in chairmanship" following changes to the company's shareholder structure.
- Frasers Group has steadily increased its ownership stake in Hugo Boss to 48% and intends to increase it to more than 50% to take majority control.
- Frasers' former company secretary Robert Palmer will join the board subject to court approval, while Hugo Boss CEO Daniel Grieder noted Murray supports the strategic direction.
- Highlighting the brand's potential, Murray stated Hugo Boss is "exceptionally well positioned, with two strong brands, a unique global footprint and significant untapped potential.
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19 Articles
Hugo Boss informed that she appointed Michael Murray, CEO of the Frasers Group, as the next president of her board of directors, weeks after the British retailer reached an equity stake close to the majority. Exclusive material for subscribers. To have full access, access the link of the subject and register.
Mike Ashley tightens grip on Hugo Boss as son-in-law made chair
Mike Ashley has tightened his grip on Hugo Boss after his son-in-law, the boss of Frasers Group, was made chairman of the German fashion house. Frasers, which Ashley founded as Sports Direct, has been vying for control of Hugo Boss for months, resulting in him toppling the chairman of its supervisory board, Stefan Sturm, earlier [...]
The British Frasers Group is a major shareholder in Hugo Boss and wants to take over the fashion group. Now, after a power struggle, it is also the new Chairman of the Supervisory Board.
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