Yves Müller is leaving his positions at Hugo Boss for personal reasons and will be replaced by Ivica Maric starting October 1. This departure comes two weeks after the resignation of the CEO following the takeover bid by Frasers Group, which controls 47.89%.
The Chief Financial Officer and Chief Operating Officer of Hugo Boss, Yves Müller, has submitted his resignation for "personal reasons," as confirmed by the German textile company. Müller has held the position of CFO since December 2017 and has also been responsible for operations since May 2022, including IT, logistics, production, procurement, and purchasing.
The transition will be effective on October 1 and will fall to Ivica Maric, the current Executive Vice President of Commercial Operations, who joined the company in 2005 and has held various leadership positions in Control and Accounting. The information, reported by Infobae, confirms a departure that occurs just two weeks after the resignation of the CEO, Stephan Sturm, amid the acquisition process by Frasers Group.
The takeover bid launched by the British group concluded on August 13 with a stake of 47.89%, falling short of the 50% threshold that had been set. Frasers has already expressed its intention to achieve a majority stake in the German company.
"On behalf of the supervisory board, I would like to thank Yves Müller for his commitment and contribution to Hugo Boss over the past years. We appreciate his achievements and wish him the best in his professional and personal future. Ivica Maric has extensive experience in both the financial management of the company and our operations. Furthermore, in recent years he has implemented and driven key digitalization and efficiency projects, bringing the necessary experience to this position," stated the chairman of the company's supervisory board, Michael Murray.
The current CEO, Daniel Grieder, has also commented on Müller's departure: "Yves Müller has played a decisive role in the successful implementation of Claim 5 and has significantly contributed to the financial and operational strength of Hugo Boss. On behalf of the board of directors, I would like to sincerely thank Yves for his fruitful collaboration and wish him the best in the future. I also look forward to continuing our excellent collaboration with Ivica Maric in his new role."
The offer from Frasers Group, announced on June 10, valued the share package that it did not yet control at around 1.925 billion euros, at a price of 38 euros per share. With Maric's appointment, the company seeks to maintain continuity in its executive leadership while the British group continues its roadmap to take control.
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