Stephan Sturm, chairman at Hugo Boss, has agreed to step down amid an ongoing takeover by Frasers Group.

Frasers Group said it had agreed an "orderly transition" for Sturm as part of its takeover discussions.

In an official statement, Frasers Group said: "Frasers and Mr Sturm have therefore mutually agreed that Mr Sturm will step down from his position as Chairman and member of the Supervisory Board as soon as possible as permitted by Hugo Boss' constitution."

Sturm was elected chairman of the supervisory board in May 2025, a role that officially lasts for a five-year term. He previously served as chief executive of the German healthcare company Fresenius from 2016 to 2022, having worked at the firm since 2005.

In addition to Sturm's departure, Frasers Group announced its intention to elect its former company secretary, Robert Palmer, to the board.

Michael Murray, chief executive of Sports Direct and son-in-law of Frasers Group owner Mike Ashley, is already a member of Hugo Boss's supervisory board. In July, The Times reported that the firm was looking to appoint him as the new Hugo Boss chief following its takeover.

Frasers launched its voluntary public takeover offer in June with the aim of acquiring the 73.42 per cent of Hugo Boss it did not already own, and the takeover became unconditional in July.

Frasers Group offered Hugo Boss shareholders €38 per share. As of 18 August, the firm had increased its stake to 47.89 per cent. The firm's takeover of Hugo Boss is part of a wider move to expand its luxury offerings, alongside its existing retail portfolio including Evans Cycles and Sports Direct.

In August, the firm acquired luxury department store chain Harvey Nichols in a £40 million rescue deal, and it has increased its stake in Burberry.

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