Hugo Boss supervisory board chairman Stephan Sturm will step down from his position with effect from October 15, 2026. The company said the decision follows “constructive discussions” against the background of recent changes in its shareholder structure. Sturm will continue to serve as chairman until a successor is elected, ensuring an orderly transition.
The move comes as Frasers Group continues to increase its influence at Hugo Boss. Following its €1.98 billion voluntary takeover offer, the British group raised its stake to 47.89% and has said it intends to pursue a holding of more than 50%. Although the takeover offer itself did not result in Frasers taking control, the group has continued to strengthen its position.
The relationship between Frasers and Sturm had already been strained. In December 2025, Frasers withdrew its support for the supervisory board chairman, with disagreements including Hugo Boss’ dividend policy. The latest announcement therefore represents a significant change in the company’s governance as Frasers moves closer to becoming the German fashion group’s majority shareholder.
Frasers CEO Michael Murray Steps In
According to the Frankfurter Allgemeine Zeitung (F.A.Z.), citing company sources close to Frasers, Frasers CEO Michael Murray is expected to become the new Hugo Boss supervisory board chairman. Murray has been a member of the Hugo Boss supervisory board since May 2025. Frasers is also seeking to add its lawyer Robert Palmer to the board as a second representative.
Importantly, the F.A.Z. reports that Murray is not expected to replace Hugo Boss CEO Daniel Grieder. The newspaper says speculation by The Times that Murray could take over the CEO position is incorrect, according to its sources.
The development comes as Hugo Boss is pursuing its own strategic transformation under its “Claim 5 Touchdown” program, while the company continues to face weak consumer demand and declining financial performance.
