Hugo Boss splits Timm’s duties as Frasers holds 50.08% stake

By Rebecca Stone

Oliver Timm will resign as Hugo Boss’s Chief Sales Officer and Deputy Chief Executive on November 30. Frasers Group recently became the brand’s majority shareholder. Timm requested his exit from the Managing Board. Hugo Boss has not named a successor.

What changes on November 30?

Daniel Grieder and Ivica Maric will divide Timm’s responsibilities for now. Grieder serves as chief executive. Maric serves as chief financial officer and chief operating officer. Timm’s remit covered the BOSS and HUGO business units, group retail, wholesale, digital sales, visual display, store operations and customer relationship management.

The temporary allocation concentrates a broad commercial brief on two executives. For channel teams, the handover matters. It links product brands with wholesale, stores, digital sales and customer operations. Hugo Boss has announced no permanent replacement or start date.

Who led Hugo Boss’s sales function?

Timm joined the Managing Board as Chief Sales Officer in January 2021. He became Deputy CEO in 2024.

CEO Daniel Grieder said the two had worked side by side for almost 30 years. He said: “During his time at Hugo Boss, he has repositioned the company’s sales with a future-oriented omnichannel approach and a strong customer-centric mindset, making a significant contribution to our growth and digitalisation.”

That statement credits Timm with commercial repositioning and digital progress. Grieder did not provide separate performance figures to support the assessment.

Michael Murray, chairman of Hugo Boss’s Supervisory Board and chief executive of Frasers, thanked Timm for his contribution. Murray became chairman on September 16. Stephan Sturm had departed before that appointment following discussions with Frasers. The sequence places the chairman change within the takeover process that culminated in majority ownership.

Timm’s exit follows Yves Müller’s September departure as chief financial officer and chief operating officer. Müller stepped down for personal reasons. Ivica Maric, previously executive vice president of business operations, assumed both roles on October 1.

How does ownership affect control?

Frasers raised its Hugo Boss stake to 50.08% on October 23. The company thereby became Hugo Boss’s majority shareholder, up from approximately 47% to 48%. Hugo Boss is now set to become a Frasers subsidiary. A Frasers shareholder statement expects Hugo Boss’s earnings, assets and liabilities to enter Frasers’ accounts.

German law keeps daily management with Hugo Boss’s Managing Board. That board reports to the Supervisory Board. Frasers stated: “Frasers’ ability to influence Hugo Boss’ day-to-day business activities may be limited.” The warning separates accounting consolidation from operational authority.

A Hugo Boss spokesperson said the rise from approximately 47% to 48% did not materially change Frasers’ influence. The spokesperson also said it had no material impact on Hugo Boss’s daily operations.

Is Murray a CEO candidate?

Frasers reportedly considered installing Murray as Hugo Boss chief executive. Grieder currently holds that role, and Murray remains supervisory chairman. The reported consideration did not become an announced appointment. Timm is now the latest executive to leave since Frasers secured majority ownership.

How weak was the trading backdrop?

Frasers took control at a weaker point in Hugo Boss’s trading. Currency-adjusted sales fell 9% in the second quarter. Sales also fell 8% in the first half. Second-quarter EBIT was €59 million.

The source does not link Timm’s resignation to those declines. It instead presents the exit within a broader sequence of executive changes and consolidation.

Where does Hugo Boss sit in Frasers Luxury?

Frasers acquired Harvey Nichols in August. It launched Frasers Group Luxury earlier this month. The strategy brings Flannels, Harvey Nichols and The Webster together with the group’s brand investments, including Hugo Boss.

For Hugo Boss, the structure raises questions about channel control and management bandwidth. Those questions remain open as Grieder and Maric absorb Timm’s responsibilities. The next checkpoints are a permanent sales-chief appointment, clarity on any CEO role for Murray, and Hugo Boss’s consolidation within Frasers’ luxury platform. The source provides no dates for a successor or CEO appointment.