Hugo Boss AG said Thursday that Chief Executive Daniel Grieder will leave the German fashion company at his own request on Dec. 31, 2026, and that its Supervisory Board has appointed David Epstein, a Frasers Group executive, as CEO effective Jan. 1, 2027².

Reuters reported the succession as part of Frasers' tighter hold on Hugo Boss after the British retailer, already the largest shareholder, took majority control in October by raising its stake above 50%, months after an unsuccessful 2 billion euro takeover bid¹.

Frasers is controlled by billionaire Mike Ashley and has been expanding in premium and luxury retail, Reuters said¹. In September, Hugo Boss named Frasers chief executive Michael Murray chairman of its Supervisory Board, Reuters reported¹.

Epstein has been Frasers' chief brand partnerships officer since 2024, overseeing partnerships across sport, premium and luxury, both the company and Reuters said^1,2. Hugo Boss said he previously spent five years as managing director of Frasers' premium and luxury divisions and more than 10 years at the group².

Grieder has been CEO since June 2021². Hugo Boss said he led a transformation under its CLAIM 5 strategy, including relaunches of the BOSS and HUGO brands². He said now is the right time "to step down and hand over to the next generation of leadership"².

Murray, speaking as Supervisory Board chairman, thanked Grieder and said Epstein would bring new perspectives while building on the company's foundation, according to Hugo Boss². Reuters' dispatch dated Grieder's departure as effective Jan. 1, 2027; the company's announcement splits the handover between Dec. 31, 2026, and Jan. 1, 2027^1,2.