Hugo Boss Names New CFO and COO Amid Potential Takeover

Hugo Boss CFO and COO Yves Müller is stepping down from the fashion group’s Managing Board, with Ivica Maric set to take over both roles on 1 October this year.

Hugo Boss says Yves is stepping down from his position at his own request, with the company citing personal reasons for Yves’s departure.

Currently, Ivica serves as Executive Vice President Business Operations and will join the Managing Board with responsibility for finance and operations. He will inherit a combined remit that Yves has had since 2022.

Ivica first joined Hugo Boss in 2005 and moved across senior roles in controlling and accounting before being promoted to Senior Vice President of controlling in 2012.

Following this, he took on responsibility for business operations in 2022 and was appointed Executive Vice President Business Operations in 2023.

Reactions to the transition

Discussing Ivica's incoming role and his experience in finance, Michael Murray, Chair of Hugo Boss’s Supervisory Board and CEO of Frasers Group, says: “In recent years [Ivica] has implemented and driven key digitalisation and efficiency projects and therefore brings the expertise required for this position.”

Yves first joined the company as CFO in December 2017 and in May 2022, took on operations while retaining the CFO position, with his remit expanding to cover purchasing and procurement, in addition to production, logistics and IT.

“Yves Müller has played a decisive role in the successful implementation of CLAIM 5 and made an important contribution to the financial and operational strength Hugo Boss has today,” says Hugo Boss CEO Daniel Grieder. “On behalf of the Managing Board, I would like to sincerely thank Yves for the trustful collaboration and wish him all the best for the future.”

Daniel adds that he also looks forward to continuing to work alongside Ivica in his incoming COO and CFO roles.

Frasers Group’s takeover bid

Frasers Group, owned by entrepreneur Mike Ashley, offered to buy Hugo Boss in June this year as part of a US$1.73bn takeover bid.
Currently, Frasers stands as Hugo Boss’s largest shareholder, having increased its position to 47.89% following further acceptances of the original takeover offer.

Since launching the offer, Frasers has repeatedly reaffirmed its ambitions to cross the 50% threshold for a takeover of the company.

Earlier this month, Hugo Boss ended a €200m (US$227m) share buyback after Frasers reaffirmed that ambition.

The Managing Board linked its decision to end the programme early directly to Frasers’s intention to cross the 50% threshold and the company’s review of its support for Hugo Boss Supervisory Board Chairman Stephan Sturm.

Michael Murray became Supervisory Board Chairman this month, after Stephan said he would step down following discussions with Frasers.

The Supervisory Board oversees the Managing Board, which Ivica will join upon taking the CFO and COO roles. 

Frasers Group has previously said that if it does cross the 50% threshold, then it would look to potentially install its own CEO, Michael Murray, to lead the luxury brand.

Discussing the potential takeover when it was first put forward, Hugo Boss was resistant to the deal, initially calling it “inadequate”.

In a company statement, Hugo Boss said: “The offer price… does not adequately reflect Hugo Boss’s standalone prospects and future value creation potential.”

Despite Hugo Boss’s resistance to the offer, Stephan added at the time: “We look forward to maintaining a constructive relationship with Frasers Group as the single largest shareholder of Hugo Boss.”

Hugo Boss’s key partners:

Aston Martin Aramco F1: Hugo Boss partners with the team as its official apparel partner, outfitting drivers, engineers, and staff in elevated performance attire.
CEO: Andy Cowell (Group CEO) | Headquarters: Silverstone, Northamptonshire, UK

Porsche: This long-standing collaboration creates exclusive Porsche x Boss capsule collections that blend luxury, sleek design, and cutting-edge automotive engineering principles.
CEO: Michael Leiters | Headquarters: Stuttgart, Germany

The R&A: Hugo Boss serves as an official Patron Partner, designing premium golf apparel while supporting one of the sport's most prestigious tournaments.
CEO: Mark Darbon | Headquarters: St Andrews, Fife, Scotland