SALZER NAMED CEO AT HUGO BOSS
Byline: Melissa Drier
METZINGEN, Germany — There’s a new boss at Boss.
Werner Baldessarini will not renew his contract as chief executive and management board member of Hugo Boss AG and will be succeeded by Bruno Salzer. Baldessarini’s contract expires June 30.
Salzer has been a management board member with responsibility for sales and trade marketing since 1995 and the board’s vice chairman since 1998.
In a statement released Friday, the German apparel giant said Baldessarini had advised the supervisory board that he “wishes to pursue his personal life plan and allow himself the luxury of more time in the future.”
Baldessarini will continue to act as a creative consultant to the company and its Baldessarini luxury men’s collection for the next five years. In addition, the supervisory board will recommend that Baldessarini be elected to its ranks at the annual shareholders meeting next May 28.
Baldessarini joined Boss in 1975. Prior to being named chief executive in November 1998, he was deputy chairman of the board and widely considered to be the creative heart of the Boss empire. During his tenure as chief, Boss sales grew from $1.75 billion in 1999 to a projected $2.5 billion for 2001. Dollar figures are converted from the German mark at current exchange rates. It was also during this period that the Metzingen men’s wear specialist made its long-awaited entry into women’s wear.
In a further management change, the supervisory board has appointed Lothar Reiff, the Boss brand’s creative director for many years, to the management board, with responsibility for “creation.” Reiff takes on this role Jan. 1.