(Alliance News) - Frasers Group PLC on Friday announced that its Chief Executive Officer Michael Murray has joined the supervisory board of Hugo Boss AG.
Frasers is the Shirebrook, England-based owner of multiple retail brands, including House of Fraser, Sports Direct and Flannels.
"I am honoured to be joining the board of Hugo Boss," Murray commented. "Our long-standing collaboration with Hugo Boss is one of our most successful brand partnerships, reflecting our shared values and strong cooperation, and I am looking forward to supporting Hugo Boss in its next stage of growth."
Frasers announced in early April that it had expanded its strategic investment into Hugo Boss to own 13.5 million shares, or a 19.2% direct stake, in the Metzingen, Germany-based designer fashion brand. It also said it held exposure to up to 16.7 million shares, or a further 23.7% stake, via put options.
Frasers' announcement of its CEO's appointment follows Hugo Boss's Thursday release stating that Murray, as well as Stephan Sturm and Andreas Kurali, had been elected to its supervisory board at the annual general meeting.
"In its subsequent meeting, the supervisory board elected Stephan Sturm as the new chairman of the board," Hugo Boss added.
The company had previously said in December that it had nominated Sturm to succeed now-former chair Hermann Waldemer, and that Murray and Kurali were both running for election to the board.
Shares in Frasers were trading 1.0% higher at 715.50 pence in London on Friday afternoon.
Shares in Hugo Boss, meanwhile, were down 3.0% at EUR40.64 each in Frankfurt.
By Emma Curzon, Alliance News reporter
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