Hugo Boss: Frasers CEO Michael Murray is new chairman of the supervisory board
British major shareholder Frasers Group Plc has once again asserted its influence at the Metzingen-based fashion group Hugo Boss AG. On Wednesday, the clothing company announced that Michael Murray was elected as the new chairman of the supervisory board on Tuesday. His predecessor, Stephan Sturm, announced his resignation a few days ago.
Murray has been CEO of the Frasers Group since 2022, which has been attempting to acquire a majority stake in Hugo Boss for months. As part of a voluntary takeover bid, the parent company of retail chains such as Sports Direct, Frasers and Flannels had secured just under 48 percent of the shares by mid-August. Frasers' stated goal remains to exceed the 50 percent mark. This follows long-standing disagreements over strategic decisions, such as dividend policy.
Frasers group has been working on a takeover of Hugo Boss for months
The retail group had already temporarily withdrawn its confidence in the then chairman of the supervisory board, Sturm, last winter and finally launched its takeover bid in June. This was immediately criticised by the management of Hugo Boss. The offer price of 38 euros per share “did not adequately reflect the standalone value and future value creation potential of Hugo Boss,” a company statement said. Nevertheless, the Frasers Group succeeded in persuading numerous shareholders to sell their shares.
In the course of the disagreements between the fashion group and its major shareholder, Murray, the son-in-law of Frasers owner Mike Ashley, had already been mentioned several times for possible management positions at Hugo Boss. He has now been able to secure the chairmanship of the supervisory board, which he has been a member of since May 2025.
Murray wants to “support the implementation of strategic priorities”
Sinan Piskin, the deputy chairman of the supervisory board of Hugo Boss, praised Murray's appointment. “I am delighted that in Michael Murray we have found an excellent successor for this position,” he explained in a statement. “His election creates clarity about the leadership of the supervisory board at an important stage for the company and ensures the continuity of our strategic course in the interests of all our stakeholders. We wish Michael Murray every success in his new role and look forward to continuing our close and constructive collaboration.”
Murray himself emphasised that he wanted to stick to the current reform concept. “Together with my colleagues on the supervisory board and the executive board, I look forward to building on the company's strong foundation and supporting the implementation of the strategic priorities,” he explained. “With continuity and a clear long-term perspective, we will focus on unlocking the full potential of Hugo Boss and creating sustainable value for all shareholders and stakeholders.”
In addition to Murray, the Frasers Group will in future occupy a second position on the supervisory board of Hugo Boss with its own representative. “Subject to his court appointment,” Robert Palmer will join the board and take over the seat vacated by Sturm's resignation, the company announced. Palmer has been a director of Frasers Group Financial Services Limited since 2022.