The chairman of the supervisory board of the fashion group HUGO BOSS has lost the support of his largest shareholder. The company released a statement from Frasers Group in a mandatory announcement on Friday evening.
According to this, the investor no longer supports HUGO BOSS supervisory board chairman Stephan Sturm. Mr. Sturm had previously informed Frasers Group that he would not wish to remain as Chairman of the Supervisory Board of HUGO BOSS without their support. With the aim of removing Mr. Sturm, if necessary, and appointing a new chairman of the supervisory board, Frasers Group intends to influence the composition of the supervisory board of HUGO BOSS. With a stake of 25 percent, the investor is by far the largest shareholder in the company.
However, in a statement from the fashion group also published on Friday, the future of its supervisory chairman was described as secure. “Stephan Sturm accepts his responsibility as chairman of the supervisory board and has the firm intention of continuing to hold this office,” it said.
In after-hours trading on Friday on Tradegate, the HUGO BOSS share temporarily fell by 0.44 percent to 38.55 euros compared to its XETRA close.
METZINGEN (dpa-AFX)
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