The Metzingen-based fashion group Hugo Boss AG and its major shareholder Frasers Group Plc have now officially resolved their disagreements over the composition of the supervisory board.
On Tuesday, Hugo Boss said in a voting rights announcement that the British retail group had “reassessed” its position with regard to supervisory board chairman Stephan Sturm. In November, the fashion company’s largest individual shareholder caused a stir when he called for Sturm’s dismissal. The trading group has now distanced itself from this endeavor.
“Frasers Group Plc. now supports Mr. Sturm in his role as Chairman of the Supervisory Board,” the statement said, citing a letter from the British trading group. “Accordingly, Frasers Group Plc. no longer intends to influence the composition of the supervisory board of Hugo Boss AG with the aim of removing Mr. Sturm or appointing a new chairman of the supervisory board.”
The Frasers Group also welcomes “the dividend decided at the 2026 general meeting” and “in this respect supports the changed dividend policy of Hugo Boss AG,” the company said. In November, the British retailer criticized Hugo Boss for allegedly excessive payouts to shareholders. The fashion company has since significantly reduced its annual dividend.