Hugo Boss CEO Mark Langer is to leave the executive board of the German luxury fashion brand later this year in mutual agreement with the company. 

In a statement today (23 March), Hugo Boss said due to the current challenges posed by the coronavirus pandemic, Langer will continue to be available to the company in an advisory and supportive capacity until 30 September.  It added the group’s supervisory board will immediately look for a successor. 

“Mark Langer successfully restructured and realigned the company as CEO,” said supervisory board chairman, Michel Perraudin. “The concentration on the two brands Boss and Hugo as well as the clear progress in online business, in our own retail and in Asian business are clear evidence of this. This set the right course for sustainable growth. “

Earlier this month, Hugo Boss said it expects the economic consequences of the Covid-19 outbreak to have a “significant” impact on the group’s sales and profit development in 2020, particularly in the first quarter. 

The company increased sales by 3% to EUR2.9bn (US$3.2bn) in fiscal year 2019, while net income slipped to EUR205m from EUR236m last year.

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