Frasers CEO Michael Murray nominated for Hugo Boss board seat

17th December 2024

Frasers Group will be waiving new chief executive Michael Murray's £1m base salary until the end of the business's financial year...

Frasers Group CEO Michael Murray has been nominated for a role on Hugo Boss’ supervisory board as the German retailer unveiled a host of new members today (17 December).

Hugo Boss said Stephan Sturm will step in as chairman of the supervisory board, replacing Hermann Waldemer, who has held the position since 2020.

The fashion brand has also put forward Murray and Andreas Kurali, the former deputy CFO of US tobacco giant Philip Morris International, as candidates for board membership. Gaetano Marzotto and Robin J. Stalker will join Waldemer in stepping down from the board next year.

Shareholders are set to vote on the proposed appointments during the company’s annual meeting on 15 May, 2025.

Related Story
- Boohoo v Frasers: What’s next in the fashion giant’s boardroom battle with Mike Ashley?
  
  09/12/2024 x 1:00 PM

Frasers Group, which initially snapped up a 5.1% stake in Hugo Boss in June 2020, now holds 7.99% of the brand’s total share capital through 5.6 million common stock shares. It also controls an additional 13.81% through put options as of July.

Murray said: “We have huge respect for Hugo Boss, its management team, and its strategy, as well as the enormous contribution from all employees as the company makes progress towards its goals.

“I look forward to bringing my retail and transformation expertise to the board and contributing to the future success of the business.”

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

Fashion Luxury goods

Leave a Reply Cancel reply

Fashion Luxury goods

17th December 2024

Georgia Wright

Frasers Group CEO Michael Murray has been nominated for a role on Hugo Boss’ supervisory board as the German retailer unveiled a host of new members today (17 December).

Hugo Boss said Stephan Sturm will step in as chairman of the supervisory board, replacing Hermann Waldemer, who has held the position since 2020.

Shareholders are set to vote on the proposed appointments during the company’s annual meeting on 15 May, 2025.

Related Story
- Boohoo v Frasers: What’s next in the fashion giant’s boardroom battle with Mike Ashley?
  
  09/12/2024 x 1:00 PM

Murray said: “We have huge respect for Hugo Boss, its management team, and its strategy, as well as the enormous contribution from all employees as the company makes progress towards its goals.

“I look forward to bringing my retail and transformation expertise to the board and contributing to the future success of the business.”

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

Social

SUBSCRIBE TO OUR DAILY NEWSLETTER

Latest Feature

Interview: How Palmer’s 20-year logistics partnership is fuelling its European expansion

Palmer’s may be one of the most familiar names on the bathroom shelf, but behind the cocoa butter bottles is a surprisingly small UK operation.

ET Browne UK, which distributes the American family-owned skincare brand, has grown its sales while keeping its core team to fewer than 20 people.

Now, as a new Tahitian Vanilla range brings younger shoppers to the brand and the company looks to expand further into Europe, the pressure is falling on the supply chain to keep up.