Hugo Boss promotes finance chief to CEO

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Hugo Boss, the German fashion powerhouse, has named Mark Langer as its new CEO. Langer, who has acted as the company’s finance chief since 2010, hopes to greatly improve business after recent unsatisfactory results.

“Due to my long-standing work for Hugo Boss, I have a clear understanding of the company’s potential and know what we need to do to get it back on track for profitable and sustainable growth,” says Langer.

Langer replaces Claus-Dietrich Lahrs, who stepped down in February after a steep fall in sales in both the United States and China led to a profit warning.

Hugo Boss notes that it will seek to cut costs by renegotiating rents, shutting down stores and shifting marketing spending back to its core menswear business.

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