Hugo Boss chairman departs as Frasers steps up pressure
By Benjamin Chiou
Date: Monday 14 Sep 2026
(Sharecast News) - Hugo Boss's chairman has agreed to part ways with the German fashion brand amid growing pressure from major shareholder Frasers Group, as the British retail group seeks greater boardroom control ahead of a formal takeover.
The companies announced on Monday that Hugo Boss chair Stephan Sturm and Frasers "mutually agreed" that he should leave as soon as possible, and his last day will be 15 October.
"Both parties share the view that, as HUGO BOSS enters a new chapter in its corporate history, this is an appropriate point in time for an orderly transition in the office of chairman of the supervisory board," Frasers said.
In a separate statement, Hugo Boss said that the decision followed "constructive discussions against the backdrop of the recent changes in Hugo Boss's shareholder structure".
Frasers, which currently owns 48% of the German firm, had already announced it is looking to increase its stake to over 50%, and will now seek increased representation on the brand's supervisory board.
Alongside chief executive Michael Murray, Frasers said on Monday it now wants to appoint former company secretary Robert Palmer to Hugo Boss's board.
Hugo Boss shares were down 0.2% at €38.17 by 1237 BST in Frankfurt, while Frasers gained 0.3% to 795p in London.
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