Hugo Boss extends CEO’s contract after return to growth

Hugo Boss CEO

Hugo Boss has agreed to extend the contract of chief executive Mark Langer after he successfully put the fashion retailer “back on the road to growth”.

Langer, who is also the chairman of the fashion retailer’s managing board, will now have his contract run for an additional three years until December 2021.

The news comes as Hugo Boss announced that it grew its currency-adjusted sales by three per cent last year.

The menswear brand attributed the growth to sales in its retail business, which outperformed expectations.

Meanwhile, operating profit remained stable at €491 million (£438 million) and in line with forecast, and the increase in sales was offset by investments in repositioning the Boss and Hugo brands as well as a digital transformation of the business model.

“Mark Langer has put the company back on the road to growth,” Hugo Boss supervisory board chairman Michel Perraudin said.

“We are convinced that he will continue along this path and build a successful future for Hugo Boss.”

Langer said: “I’m delighted to receive this vote of confidence from the supervisory board.

“It confirms that our strategic realignment is already posting successes, and that we are on track to guide Hugo Boss toward sustainable and profitable growth.”

Click here to sign up to Retail Gazette‘s free daily email newsletter


Please enter your comment!
Please enter your name here