Frasers Group CEO Michael Murray has been nominated for a position on Hugo Boss’ supervisory board, announced today.
- Stephan Sturm is set to replace Hermann Waldemer as the chairman of Hugo Boss’ supervisory board.
- Murray and Andreas Kurali, ex-deputy CFO of Philip Morris, are proposed for board membership.
- Shareholders will vote on these appointments at Hugo Boss’ annual meeting on 15 May 2025.
- Frasers Group has increased its stake in Hugo Boss to 7.99%, with an additional 13.81% controlled through put options.
Frasers Group, as part of its strategic interests, has put forth CEO Michael Murray for a role on the supervisory board of Hugo Boss. This nomination was made alongside several other proposed board changes announced on 17 December. The appointment comes as Hugo Boss aims to bring fresh perspectives and leadership to its supervisory structure.
Stephan Sturm, known for his leadership capabilities, has been nominated to take over from Hermann Waldemer as chairman of the board. Waldemer’s tenure, beginning in 2020, will conclude as Gaetano Marzotto and Robin J. Stalker also exit next year, marking a significant overhaul in the board’s composition.
In addition to Murray, Hugo Boss has nominated Andreas Kurali, who brings with him extensive financial expertise from his tenure at Philip Morris International. These nominations are set to be fostered by a shareholder vote scheduled during the company’s annual gathering in May 2025.
Michael Murray expressed his respect for Hugo Boss, highlighting the brand’s management and strategic direction, while also acknowledging the contributions of its employees. “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,” he stated.
Frasers Group has been steadily increasing its investment in Hugo Boss since its initial 5.1% stake acquisition in June 2020. The group now holds 7.99% of Hugo Boss’ share capital directly through 5.6 million common stock shares, and another 13.81% through strategic put options as of July, signaling a robust investment trajectory.
The proposed appointments at Hugo Boss signal a transformative phase for the company’s supervisory board.
