Fashion house Hugo Boss is gaining a new CEO in the form of Daniel Grieder. However, the 58-year-old – on whom the company’s hopes are riding – will only take on his position on 1 June 2021. A transitional arrangement is going to be in place until then. The previous CEO, Mark Langer, will be exiting the company on 30 September 2020, as already announced. CFO Yves Müller will act as the board’s spokesman for the transition period from 1 October 2020 to 31 May 2021. Daniel Grieder has worked in the fashion industry for more than 30 years. The Swiss businessman spent most of this time in various roles at the brand Tommy Hilfiger, and has been CEO of Tommy Hilfiger Global and PVH Europe since 2014. According to the statement put out by Hugo Boss, Grieder made a decisive contribution to the positive revenue and profit growth at Tommy Hilfiger. He drove its digital transformation and additional innovation projects and implemented groundbreaking sustainability initiatives. Mark Langer, the departing CEO, assumed the role in 2016 to put Hugo Boss back on track. The MDAX company had run into difficulties after excessively rapid growth and a misplaced brand strategy. Langer realigned the business step by step, closing unprofitable boutiques, reducing discounts, adjusting prices and working on the brand profile. Hugo Boss also committed further to digital transformation. The men’s suiting specialist dipped into the red in the first quarter of 2020 as a result of the coronavirus pandemic. It expects the first signs of improvement in retail as of the third quarter of the year.artal.
