German luxury fashion brand Hugo Boss AG (HUGSF.PK) announced Friday that Chief Operating Officer Heiko Schäfer will leave the company with effect as of May 31 to pursue a new professional assignment outside the firm.
The company said it will divide the departments reporting to Heiko Schäfer among the remaining Management Board departments. Global Product Development will move to the area of responsibility of Daniel Grieder. Yves Müller will assume responsibility for Sourcing, Own Manufacturing, Logistics, and Sustainability.
Schäfer joined HUGO BOSS in March 2020, at the beginning of the COVID-19 pandemic, and is responsible for Global Product Development and Sourcing, Own Manufacturing, and Logistics, as well as Sustainability.
In Germany, Hugo Boss shares were trading at 48.64 euros, down 1.68 percent.
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