Frasers Group chief Michael Murray nominated for Hugo Boss board in shake-up

Frasers Group has won its fight for its chief executive to be nominated for a seat on the Hugo Boss board.

Michael Murray, the son-in-law of the retail giant’s largest shareholder Mike Ashley, will run for election at the German fashion firm’s annual shareholder meeting next year.

The announcement came as Hugo Boss revealed chairman Hermann Waldemer will be replaced by Stephan Sturm in a board shake-up. Murray ‘will be a great asset to the company’, Waldemer said.

The group also praised Murray for being ‘instrumental’ in driving Frasers’ ‘transformation and its further development of the premium segment and digital’. 

Murray, who is one of the youngest bosses in 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 came just days before a dramatic showdown between Ashley and the bosses of online fast-fashion retailer Boohoo, which Frasers also owns a large chunk of.

Frasers is vying for Ashley and restructuring expert Mike Lennon – a close ally of the tycoon – to be given seats on Boohoo’s board.

But Boohoo chief executive Dan Finley and co-founder Mahmud Kamani are urging investors to rebuff Frasers Group’s efforts at an emergency vote on Friday.

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