The Frasers group has won its battle for its main seat to be nominated for a seat on the board of Hugo Boss.
Michael Murray, the son-in-law of largest shareholder Mike Ashley, will stand to vote at the German fashion firm’s annual meeting next year.
The announcement came as Hugo Boss announced that chairman Hermann Waldemer will be replaced by Stephan Sturm in the coordination of the board. Murray is ‘a great asset to the company’, says Waldemer.
The group also praised Murray for his ‘passionate’ role in driving Frasers’ transformation and his own development of the finance and digital sector.
Boss: Frasers group boss Michael Murray (pictured) will take part in the voting at next year’s Hugo Boss annual meeting.
Murray, who is one of the youngest CEOs of the FTSE 250 at 34, is married to Ashley’s eldest daughter Anna.
Frasers is the second largest shareholder in Hugo Boss with a 15.18 per cent stake – just behind Italy’s Marzotto family’s 15.45 per cent stake.
The update comes just days before a major clash between Ashley and the bosses of fast-paced online retailer Boohoo, in which Frasers is also a big part.
The Frasers are vying for Ashley and reformer Mike Lennon – a close friend of the icon – to be given seats on the Boohoo board.
But Boohoo CEO Dan Finley and founder Mahmud Kamani are urging investors to reject Frasers Group’s operations in a snap vote on Friday.
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