HUGO BOSS CEO CLAUS-DIETRICH LAHRS RESIGNS

Hugo Boss CEO Claus-Dietrich Lahrs will step down from his position, after eight years with the company, on February 29 in light of the company’s recent weak sales in the U.S. and China. No replacement has been named.

“The last eight years were successful and exciting years in a unique Hugo Boss culture,” said Lahrs. “The excitement and passion of all employees for our company have been impressive and will be in my memory. The special Hugo Boss spirit will keep the company on the success path also in the future.”

Lahrs will also leave the managing board of the company upon his request as part of a mutual agreement. Bernd Hake, the company’s senior vice president EMEA, Middle East and India will be appointed as member of the managing board responsible for sales and retail, effective March 1.

“Claus-Dietrich Lahrs has put his stamp on the development of Hugo Boss during the past years,” said Michel Perraudin, supervisory board chairman. “For the brand he has paved the way for an international future and he has positioned the company well in the market. Major strategic decisions for the development of the own retail business and for the development towards a leading fashion company in the premium market fall into his term of office. Hugo Boss AG thanks Claus-Dietrich Lahrs also in the name of the employees and the shareholders for the work done. We wish him good luck and a lot of success also for his professional future.”