Frasers Group has won the battle to appoint its CEO for a seat on the board of Hugo Boss.
Michael Murray, the son-in-law of Mike Ashley, the retail giant’s largest shareholder, will stand as a candidate at the German fashion company’s annual shareholders’ meeting next year.
The announcement came as Hugo Boss revealed that chairman Hermann Waldemer will be replaced by Stephan Sturm in a management change. Murray “will be a great asset to the company,” Waldemer said.
The group also praised Murray for being “instrumental” in driving Frasers’ “transformation and further development of the premium segment and digital”.
Boss boss: Frasers Group chief Michael Murray (pictured) will stand for election at Hugo Boss’ annual shareholders meeting next year
Murray, who at 34 is one of the youngest bosses in the FTSE 250, is married to Ashley’s eldest daughter Anna.
Frasers is Hugo Boss’s second largest shareholder with a 15.18 percent stake – just behind the Italian Marzotto family’s 15.45 percent stake.
The update came just days before a dramatic confrontation between Ashley and the bosses of online fast-fashion retailer Boohoo, which Frasers also owns a large part of.
Frasers is vying for Ashley and restructuring expert Mike Lennon – a close ally of the tycoon – for seats on Boohoo’s board.
But Boohoo chief executive Dan Finley and co-founder Mahmud Kamani are urging investors to reject Frasers Group’s efforts in an emergency vote on Friday.
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