Mounting pressure by Frasers Group leads to chairman’s resignation at Hugo Boss

Stephan Sturm, chairman of the Hugo Boss board of directors, is stepping down after just over a year. He is doing so under pressure from the German fashion house’s largest shareholder, Frasers Group, owned by British entrepreneur Mike Ashley.

Search for a successor

“Following the recent changes in the company’s shareholder structure, I believe that this is the right time for an orderly transition in the chairmanship,” Sturm said in the press release issued by Hugo Boss.