Hugo Boss has appointed Michael Murray, the chief executive of Frasers, as its new chairman, tightening Mike Ashley's grip on the German fashion brand. Mr Murray, who is Mr Ashley's son-in-law, was elected head of the supervisory board on Tuesday morning, just 24 hours after Stephan Sturm stepped down amid pressure from Frasers. The appointment marks a victory for Mr Ashley's retail giant, which has built a stake of about 48pc in Hugo Boss after launching a takeover attempt earlier this year, and Frasers has said it intends to increase its holding beyond 50pc, which would give it majority control of the German retailer. Hugo Boss also said Robert Palmer, a former company secretary at Frasers and one of Mr Ashley's senior lieutenants, would join its supervisory board, subject to appointment by the local court. Mr Sturm had been chairman for just 16 months, having been elected in May 2025, and Hugo Boss terminated its share buyback programme earlier this month after Frasers said it intended to take its stake above 50pc.
Hugo Boss AGHugo Boss appoints Frasers' Michael Murray as chairman and adds Frasers' Robert Palmer to its board, tightening Mike Ashley's control and terminating its buyback.
Frasers Group PLCFrasers secures chairmanship of Hugo Boss and moves toward majority control after building a ~48pc stake, advancing its takeover.
