<\/p>\n
\n\tLONDON \u2013 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\u2018s Frasers Group.<\/p>\n
\n\tMurray, who is CEO of Frasers Group and Ashley\u2019s son-in-law, was already serving as a member of the Hugo Boss supervisory board, having been elected in May, 2025.<\/p>\n
\n\t\u201cTogether with my colleagues on the supervisory board and the managing board, I look forward to building on the company\u2019s strong foundation and supporting the execution of its strategic priorities,\u201d said Murray. <\/p>\n
\n\t\u201cBy 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,\u201d he added.<\/p>\n
\n\tSinan Piskin, deputy chairman of the supervisory board of Hugo Boss, described Murray as \u201can 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.\u201d<\/p>\n
\n\tMurray\u2019s appointment as chairman is the latest installment in the Frasers-Boss drama, and it won\u2019t be the last.<\/p>\n
\n\tFrasers\u2019 failed takeover bid this summer has only whetted Ashley\u2019s 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.<\/p>\n
\n\tAlthough 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.<\/p>\n
\n\tFrasers launched its bid in June, and the Boss board recommended that shareholders turn it down, arguing that Frasers\u2019 38 euros per share offer undervalued the company.<\/p>\n
\n\tSturm had argued that it failed to capture the brand\u2019s \u201cfuture value creation potential,\u201d and was designed chiefly to allow Frasers to move above the 30 percent threshold that triggers a mandatory offer under German law.<\/p>\n
\n\tFrasers didn\u2019t 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.<\/p>\n
\n\tFrasers 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\u2019s longtime advisers.<\/p>\n
\n\tThe 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.<\/p>\n
\n\tFrasers also has stakes in Burberry, Puma and Asos, and tried but failed to take over Mulberry, where it is the second-largest shareholder.<\/p>\n
\n\tLast 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.<\/p>\n
#Frasers #CEO #Michael #Murray #Named #Chair #Hugo #Boss #Supervisory #Board<\/p>\n","protected":false},"excerpt":{"rendered":"
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