Mike Ashley's Frasers tightens grip at Hugo Boss with new CEO pick

By Ozan Ergenay

Nov 12 (Reuters) - Frasers Group executive David Epstein will succeed Daniel Grieder as CEO of Hugo Boss from January 1, 2027, the German fashion group said on Thursday, cementing the British retailer's influence over the company.

The leadership transition comes after Frasers Group, already Hugo Boss' largest shareholder, took majority control of the company in October by raising its stake above 50%, months after an unsuccessful 2 billion euro takeover bid.

The move also follows a series of leadership changes at Hugo Boss this year. The company's CFO Yves Müller departed and was replaced by Ivica Maric in October, while chief sales officer Oliver Timm is set to leave at the end of November, the company announced earlier this week.

In September, Hugo Boss also named Michael Murray, chief executive of Frasers Group, as chairman of its supervisory board.

"With strong foundation in place, I am convinced that now is the right time for me to step down and hand over to the next generation of leadership," Grieder said in a statement.

Grieder had recently expressed optimism about working with the new chairman, citing constructive dialogue with Frasers Group after the third-quarter earnings call, during which Hugo Boss lowered its full-year forecast.

"Under his (Grieder) leadership, the company sharpened its positioning and renewed the way the brands connect with customers around the world. We respect his decision to step down," Murray said.

The British retailer, controlled by billionaire Mike Ashley, has been expanding its presence in the premium and luxury segments.

Epstein has served as chief brand partnerships officer at Frasers Group since 2024, overseeing brand partnerships across its Sport, Premium, and Luxury businesses.

(Reporting by Ozan Ergenay in Gdansk; Editing by Joyjeet Das and Vijay Kishore)