German fashion group Hugo Boss AG said Monday that supervisory board chairman Stephan Sturm will resign his seat effective Oct. 15, paving the way for a leadership change after a protracted and bitter dispute with major shareholder Frasers Group.
The decision follows what the company described as "constructive conversations in light of recent changes in the shareholder structure." Frasers Group had spent months attempting to take control of the Metzingen-based menswear maker, mounting a bid that ultimately fell just short—but left the British retailer holding nearly 48% of Hugo Boss shares by the end of the struggle.
Tensions between the two parties had been building for some time. In December, Frasers formally withdrew its confidence in Sturm as supervisory board chairman, signaling a breakdown in an already strained relationship. Public disputes also erupted over the company's dividend policy, with Frasers pressing for a more generous payout than Hugo Boss management was prepared to offer.
Sturm had served as both a supervisory board member and its chairman since May 2025. The company confirmed it will now begin searching for a successor.
Hugo Boss, best known for its men's clothing and accessories, had weathered a turbulent period since the failed takeover attempt complicated its governance structure and deepened fractures between its largest shareholder and its executive team.
