Hugo Boss
by Brian Lipton

Hugo BossMark Langer is expected to be appointed Chairman of the Managing Board and CEO of struggling German-based clothier Hugo Boss, pending the approval of the company’s supervisory board, which is expected shortly. Langer joined the company 13 years ago, becoming chief financial officer and member of the Managing Board in 2010.

Earlier this month, Hugo Boss reported its first quarter results, which included declines in sales across the globe, especially in the United States, as well as significantly lower earnings as compared to 2015.

“I am convinced that appointing Mark Langer is absolutely the right decision, especially in the current situation,” said supervisory board chairman Michel Perraudin. “Mr. Langer has our complete confidence. With the actions already taken within the last couple of months, he has acted quickly and shown great determination as well as strategic foresight.”

Added Langer: “I am very much looking forward to taking over this challenging and responsible task. Due to my years of work for Hugo Boss, I have a clear understanding of the company’s potential and know what we need to do to get it back on track for profitable and sustainable growth.”