Hugo Boss reconfirms growth strategy in agreement with employees

天长眼镜

After a series of resignations at its command center (the most recent were Giuseppe Vita, president of the supervisory board, with Bruno S?lzer, chairman of the managing board, and Werner Lackas, head of purchasing, production and logistics, also exiting from the scene), Hugo Boss reconfirms its growth strategy, with the approval of majority shareholder Permira and labor representatives.
As the German fashion house stated yesterday, negotiations with the works council had a positive conclusion. “The group’s orientation remains the same”, said CFO Joachim Reinhardt when he explained that the dividend proposal (Euro 1.45 per share against the previous 1.19, plus a possible extraordinary dividend of Euro 5 per share; see fashionmagazine.it of March 12) will not limit the company’s financial flexibility required for possible acquisitions and for steady and systematic growth.
The newly appointed COO Hans Fluri added: “Investments at record levels, which will bring more growth and create new jobs, have been planned for this year and for the future. Our majority shareholder” he added “will actively support this expansion and will bear the costs for carrying it out”.
Pleased about the agreement and the prospect of new jobs, the president of the works council - Antonio Simina – confirmed that the parties (works council, managing board and Permira funds) had created a constructive bond and were unanimous about future strategies. Until very recently, however, the atmosphere within the company appeared to be decidedly less relaxed. Simina himself stated in the magazine Der Spiegel: “Permira has to understand that you can’t do you what you want here”. He also added: “If we must die, someone else will follow us to the grave”.
The appointment of S?lzer’s successor is the now awaited: apparently a list of candidates has already been drawn up and the announcement will soon be made.