Effective February 29, Hugo Boss CEO, Claus-Dietrich Lahrs will be stepping down from his position.
The company made the announcement on Thursday, 2 days after Hugo Boss warned its investors that its fiscal 2016 profits would be lower than expected.
Pending his departure and search for a successor, members of the brand’s board will take up Lahrs’s duties, including Senior Vice President of Europe, Middle East, Africa and India Bernd Hake, who will be handling sales and retail as of March 1.
Lahrs has held the role of CEO for the past eight years, and it was under his leadership that the brand hired Jason Wu as creative director, a move that gave a significant boost to its womenswear business and brought excitement to its New York Fashion Week shows.
