The CEO of German apparel major HUGO BOSS, Grieder, will step down by year-end, and David Epstein, a Frasers executive and its largest shareholder, will become CEO effective 1 January 2027.
HUGO BOSS announced on 12 November that its current CEO, Daniel Grieder, will step down effective 31 December, and that David Epstein of Frasers Group will become CEO effective 1 January 2027. Grieder said his departure was at his own request.
Frasers made an approximately €2 billion takeover proposal in June, but it was unsuccessful. The group continued to acquire shares thereafter, raising its stake to 50.08% on 23 October and making HUGO BOSS a consolidated subsidiary.
The management overhaul has proceeded in stages since the start of this year. In September, the chairman of the supervisory board resigned and Michael Murray, Frasers' CEO, took office. The group also added Robert Palmer to the supervisory board.
Since its founding in 1982, Frasers has continued to grow into a luxury brand group with multiple brands under its umbrella. The latest moves in personnel and shareholding are drawing market attention as a shift toward a parent-led management structure.