Hugo Boss has promoted its Chief Financial Officer Mark Langer, who joined the fashion house 13 years back, as its new Chairman and CEO. He is replacing Claus-Dietrich Lahrs, who stepped down in February this year following a decline in sales.
Langer said that he is looking forward to this challenging task and is confident that his experience will prove beneficial for Hugo Boss as he has a clear understanding of the brand’s potential and knows what it needs to attain lucrative and sustainable growth.
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Commenting on Mark’s appointment, Michel Perraudin, Supervisory Board Chairman averred, “I am convinced that appointing Mark Langer is absolutely the right decision, especially in the current situation. Langer has our complete confidence. With the actions already taken within the last couple of months, he has acted quickly and shown great determination as well as strategic foresight.”
Hugo Boss, often styled as BOSS, is a Germany-based luxury fashion house which was founded in the year 1924. The company noted revenue worth € 2.80 billion last year; with operating profit – € 447.7 million and profit locking at € 319.3 million. It will be interesting to see what new Mark will bring to the label to increase its profit share.
