Daniel Grieder is to become chief executive officer of Hugo Boss AG for a period of five years starting on June 1, 2021.
The supervisory board of the German fashion firm confirmed his appointment late Tuesday night and said chief financial officer Yves Müller would serve as the managing board’s spokesman on an interim basis following the exit of the current ceo, Mark Langer, on Sept. 30.
Hermann Waldemer, chairman of the supervisory board, said Grieder was its top choice because of his “international expertise, charismatic personality and extensive global experience in brand management, product, distribution, marketing and digitalization.
“He possesses all the qualities required to steer Hugo Boss back to sales and profit growth, and to increase the desirability of our brands for end-consumers,” he added.
Grieder, 58, called Boss a “fantastic organization” and a “German fashion icon.”
“I will be doing everything within my power to tap this potential and lead Hugo Boss into a successful future,” he vowed.
After spending most of his career at Tommy Hilfiger, Grieder stepped down as chief executive officer of Tommy Hilfiger Global and PVH Europe earlier this month and, within days, Boss revealed it was in talks with him about the ceo role.
Since Grieder assumed the ceo post of Tommy Hilfiger Global and PVH Europe in 2014, Hilfiger’s business increased from $6 billion to more than $9 billion in retail sales in 2019, and the Calvin Klein European business more than doubled in revenues and earnings.
Langer has been with Boss for almost 18 years and has been ceo since 2016.
Hugo Boss reported sales slipped 17 percent in the first quarter of this year and warned that the drop could be as big as 50 percent for the second quarter amid widespread shutdowns due to the coronavirus pandemic.
At Tommy, Grieder was succeeded by Martijn Hagman, who had been chief operating officer of Tommy Hilfiger Global and PVH Europe and chief financial officer, Tommy Hilfiger Global.