Hugo Boss CEO Grieder Steps Down; Frasers' David Epstein Takes Over January 1

Hugo Boss said on Thursday, November 12 that chief executive Daniel Grieder is stepping down and that David Epstein, an executive at Frasers Group, will replace him. Grieder leaves the company at his own request on December 31, 2026, and the supervisory board has appointed Epstein CEO from January 1, 2027, according to Hugo Boss's release. Frasers took its stake in the German group past 50% of its share capital on October 23, and a filing four days later put its shares at 49.41% of voting rights.

Grieder took office in June 2021. The company's release credits him with relaunching BOSS and HUGO as two brands with separate identities, building what it calls a 24/7 lifestyle product offering, redesigning its stores and upgrading its distribution and partner network. In his own words, "With this strong foundation in place, I am convinced that now is the right time for me to step down and hand over to the next generation of leadership." The release doesn't give a further reason, and it doesn't say what he does next.

Who David Epstein is

Epstein joins from Frasers, where Hugo Boss says he has been Chief Brand Partnerships Officer since 2024, overseeing brand partnerships across its Sport, Premium and Luxury businesses. He has spent more than ten years at the British retailer; before he became chief brand partnerships officer, he was managing director of its Premium and Luxury divisions for five years. Frasers' CEO Michael Murray, who has chaired Hugo Boss's supervisory board since September, said in the release that Epstein "combines a deep understanding of global brands with extensive experience in premium and luxury retail."

HUGO BOSS

What it adds up to

Our read: this is the latest of several changes at the top of Hugo Boss this year. Murray became chairman in September, and Reuters reports that CFO Yves Müller was replaced by Ivica Maric in October and that chief sales officer Oliver Timm is due to leave at the end of November. With Epstein, the chairman and the CEO will both come from Frasers, which passed 50% of Hugo Boss's share capital on October 23, after Hugo Boss recommended on July 9 that shareholders reject its €38-a-share offer, made in June, according to FashionUnited.

The new CEO takes over a company that has just lowered its forecast: FashionUnited notes that Hugo Boss now expects 2026 operating profit (EBIT) of €250 million to €300 million. What the release leaves open is more than who holds the job. It says nothing about Epstein's plans for BOSS and HUGO, whether he keeps any role at Frasers, or who takes over Timm's duties, and none of today's reports say whether Frasers will go further and bid for the rest of the shares.