Frasers Group boss Michael Murray nominated to Hugo Boss board in restructure

Frasers Group has won the fight to have its chief executive nominated for a seat on Hugo Boss’ board.

Michael Murray, son-in-law of the retail giant’s largest shareholder, Mike Ashley, will stand for election at the German fashion brand’s annual shareholders meeting next year.

The announcement came as Hugo Boss revealed that chairman Hermann Waldemer will be replaced by Stephan Sturm in a board restructure. Murray “will be a great asset to the company,” Waldemer said.

The group also praised Murray for being “pivotal” in driving Frasers’ “transformation and its further development of the premium and digital segment”.

Murray, who is one of the youngest bosses on the FTSE 250 at 34, is married to Ashley’s eldest daughter Anna.

Frasers is the second largest shareholder in Hugo Boss with a 15.18 per cent stake, just behind the Italian Marzotto family’s 15.45 per cent.

The update came just days before a dramatic showdown between Ashley and bosses at online fast fashion retailer Boohoo, of which Frasers also owns a large stake.

Frasers is vying for Ashley and turnaround expert Mike Lennon, a close ally of the tycoon, to take positions on Boohoo’s board.

But Boohoo chief executive Dan Finley and co-founder Mahmud Kamani are urging investors to reject Frasers Group’s efforts in an emergency vote on Friday.