Hugo Boss names Frasers CEO Murray as chairman of supervisory board

By Reuters News

By Ozan Ergenay

Sept 16 (Reuters) - Hugo Boss BOSSn.DE has appointed Frasers FRAS.L CEO Michael Murray as the chairman of its supervisory board, the German fashion group said on Wednesday.

The British retailer, controlled by billionaire Mike Ashley, has been expanding its presence in the premium and luxury segments. Frasers said this month it intended to increase its stake in Hugo Boss to more than 50% from its current holding of 48%.

"Hugo Boss is exceptionally well positioned, with two strong brands, a unique global footprint and significant untapped potential," Murray said in a statement.

Earlier this week, Hugo Boss said former chair Stephan Sturm would leave the company. Frasers said it had agreed with Sturm that an orderly transition in the supervisory board chairmanship was appropriate as Hugo Boss entered a "new chapter" in its history.

"Michael Murray has consistently supported the strategic direction we have with Claim 5 Touchdown and, together with Frasers Group, shares our view regarding the significant untapped potential of Hugo Boss," the fashion group's CEO, Daniel Grieder, said on Wednesday.

Hugo Boss also said Frasers' former company secretary Robert Palmer would join the supervisory board, subject to court approval, becoming the second Frasers representative on the board.

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