Hugo Boss: CFO Yves Müller leaves, Ivica Maric takes over

The fashion group Hugo Boss, which is facing a possible takeover, is changing its chief financial officer. The clothing manufacturer in Metzingen announced that the previous incumbent, Yves Müller, is leaving the board at his own request and for personal reasons. Ivica Maric will take over responsibility for the finance department and responsibility for operational business as COO (Chief Operations Officer) on October 1st. Maric has also previously worked in managing day-to-day business.

Michael Murray from major shareholder Frasers Group, who was promoted to chairman of the supervisory board almost two weeks ago, thanked Müller in the message and referred to Maric's many years of experience.

The British Frasers Group recently failed with a voluntary takeover bid for Hugo Boss, but noticeably expanded its power in the company by appointing Murray to the top position on the supervisory board. Murray is also Chief Executive Officer (CEO) of Frasers Group. The major shareholder had previously dropped the previous chief controller, Stephan Sturm. Hugo Boss management did not support the takeover offer.

The British recently held almost 48 percent of Hugo Boss and want to increase their shareholding to over 50 percent. Frasers has been trying to take over the helm of Hugo Boss since mid-June. The group is majority owned by the British billionaire Mike Ashley. The company's most important and best-known brand is the Sports Direct retail chain. The company also holds numerous investments, such as the online shop Asos.