LONDON – Michael Murray has been named chairman of the supervisory board of Hugo Boss, replacing Stephan Sturm who stepped down earlier this week following a failed takeover bid this summer by Mike Ashley‘s Frasers Group.
Murray, who is CEO of Frasers Group and Ashley’s son-in-law, was already serving as a member of the Hugo Boss supervisory board, having been elected in May, 2025.
“Together with my colleagues on the supervisory board and the managing board, I look forward to building on the company’s strong foundation and supporting the execution of its strategic priorities,” said Murray.
“By ensuring continuity and maintaining a clear longterm perspective, we will focus on unlocking the full potential of Hugo Boss and creating sustainable value for all shareholders and stakeholders,” he added.
Sinan Piskin, deputy chairman of the supervisory board of Hugo Boss, described Murray as “an excellent successor for this position. His election signals clarity in the leadership of the supervisory board at an important stage for the company, and ensures continuity in our strategic course moving forward, in the interest of all our stakeholders. We wish Michael Murray all the best in his new role and look forward to continuing our close and constructive collaboration.”
Murray’s appointment as chairman is the latest installment in the Frasers-Boss drama, and it won’t be the last.
Frasers’ failed takeover bid this summer has only whetted Ashley’s appetite for more, and his group said earlier this month that it planned to acquire further shares in Hugo Boss with the aim of gaining full control.
Although the Frasers bid failed, the British company managed to boost its holding in Boss to 33,054,959 shares, or 47.89 percent of the company.
Frasers launched its bid in June, and the Boss board recommended that shareholders turn it down, arguing that Frasers’ 38 euros per share offer undervalued the company.
Sturm had argued that it failed to capture the brand’s “future value creation potential,” and was designed chiefly to allow Frasers to move above the 30 percent threshold that triggers a mandatory offer under German law.
Frasers didn’t like that, and dealt swiftly with Sturm who resigned as chairman and who will step down as a member of the Boss supervisory board on Oct. 15.
Frasers also confirmed earlier this week that it would be installing a second representative, Robert Palmer, on the Boss supervisory board. Palmer is company secretary at Frasers and one of Ashley’s longtime advisers.
The British retail group, which owns Sports Direct, Flannels and Frasers stores, is aggressive and often builds up large stakes in its suppliers, and tries to shake up management and supervisory boards in order to get the best possible trading terms for its stores.
Frasers also has stakes in Burberry, Puma and Asos, and tried but failed to take over Mulberry, where it is the second-largest shareholder.
Last month, Frasers agreed to purchase Harvey Nichols out of administration. In late 2023 it purchased Matches in a fire sale, and a few months later shut it down, claiming it was too expensive to fix. Frasers later sold the Matches brand and its in-house collection, Raey, to Hulcan, a digital retail group. It is set to be relaunched later this year.
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