Michael Murray, CEO of Frasers Group, is in line for a position on the supervisory board of luxury fashion retailer Hugo Boss, marking a notable shift in board composition.
- Hugo Boss announced new board member nominations, proposing Stephan Sturm as chairman and including Murray alongside Andreas Kurali.
- The board changes follow the planned exit of Hermann Waldemer, Gaetano Marzotto, and Robin J. Stalker, as shareholders prepare to vote on these appointments in May 2025.
- Frasers Group has steadily increased its stake in Hugo Boss, currently holding 7.99% of the shares and 13.81% through put options.
- Murray expressed enthusiasm for contributing his expertise in retail and transformation to Hugo Boss’s future successes.
Michael Murray, the current CEO of Frasers Group, has been nominated for a position on Hugo Boss’s supervisory board as part of a significant reshuffle by the German fashion retailer. This development represents a strategic shift, as Hugo Boss adjusts its board composition with several new appointments announced. Stephan Sturm is set to take the role of chairman, replacing Hermann Waldemer who has held the position since 2020.
Hugo Boss has also nominated Andreas Kurali, the former deputy CFO of US tobacco giant Philip Morris International, for board membership. These nominations come as part of a broader changeover, with existing board members Gaetano Marzotto and Robin J. Stalker expected to step down alongside Hermann Waldemer in the coming year.
The proposed changes to the board will be subject to approval at Hugo Boss’s annual shareholder meeting scheduled for 15 May 2025. This meeting will be pivotal as shareholders will vote on the proposed changes, setting the stage for Hugo Boss’s strategic direction moving forward.
Frasers Group has been progressively increasing its involvement with Hugo Boss. Initially, in June 2020, Frasers acquired a 5.1% stake in the luxury brand. This has since risen to 7.99% of the total share capital, further strengthened by 13.81% control through put options as of July.
Michael Murray has articulated respect for Hugo Boss, noting his admiration for the company’s management and its strategic approach. He is looking forward to leveraging his expertise in retail transformation to aid in the future achievements of Hugo Boss. Murray’s statement underscores a focus on collaboration and growth, stating, “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.”
The proposed board changes at Hugo Boss, including the potential addition of Michael Murray, reflect a strategic evolution aligned with shareholder interests and future growth targets.
