Frasers Group CEO measured up for Hugo Boss board seat
The chief executive of Frasers Group, Mike Ashley’s retail giant which owns the likes of Sports Direct and House of Fraser, is in line to take a board seat at Hugo Boss.
Michael Murray will take part in an election to become part of the German fashion retailer’s supervisory board.
Frasers Group currently holds a 15 per cent stake in Hugo Boss, a total it has been steadily growing in recent years.
The retail empire first invested in Hugo Boss when it snapped up at 5.1 per cent stake in 2020.
Murray said: “I am delighted to be running for election to the supervisory board of Hugo Boss and am grateful for the invitation to do so.
“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.
“I look forward to bringing my retail and transformation expertise to the board and contributing to the future success of the business.”
At the same time, Hugo Boss has announced that Stephan Sturm is to become the new chairman of the supervisory board following the next annual shareholders’ meeting, succeeding Hermann Waldemer.
As well as Murray, Andreas Kurali has also been put forward to join the board, with Gaetano Marzotto and Robin J. Stalker stepping down.
Murray has been chief executive of Frasers Group since 2022 and is the son in law of Mike Ashley.
Waldemer said: “I am very pleased that we have been able to win such an experienced leader as Stephan Sturm for the supervisory board of Hugo Boss.
“Based on his previous supervisory board activities, and his many years as chairman of the management board and chief financial officer of the Fresenius health care group, he brings with him a deep understanding of the capital market.
“Stephan Sturm, like Andreas Kurali and Michael Murray, will be a great asset to the company.
“After ten years as a member of the supervisory board and five years as its chairman, I will
step down, knowing that Hugo Boss can look to the future with great confidence.
“The company has written a great success story under the leadership of Daniel Grieder and will continue on this path.”