July 16, 2008 08:19 ET

HUGO BOSS: Chairman of Supervisory Board elected, CFO leaves the company

METZINGEN, GERMANY--(Marketwire - July 16, 2008) -

Press Release

Dr. Hellmut Albrecht elected Chairman of Supervisory Board of HUGO BOSS AG CFO Joachim Reinhardt leaves the company

Metzingen, July 16, 2008. At the Supervisory Board meeting held today, Dr. Hellmut Albrecht was elected Chairman of the Supervisory Board of HUGO BOSS AG.

Dr. Hellmut Albrecht has worked for many years as an independent international corporate consultant and has previously held positions on the supervisory boards of major companies with equal employer/employee representation. He takes over the chairmanship of the HUGO BOSS Supervisory Board from Dr. Giuseppe Vita, who resigned from the post on 30 June 2008.

"I am delighted to have this opportunity to play a part in the extraordinary success story of HUGO BOSS at the head of the Supervisory Board and shall devote my many years' experience to ensuring that the Group continues to develop its market potential," said Dr. Albrecht following his election.

In a further development, Mr. Joachim Reinhardt, who has been the Managing Board member at HUGO BOSS AG responsible for the areas of finance, HR, legal matters and IT since 1 April 2006, will be leaving the Managing Board at his own request on 31 July 2008.

The departure of Mr. Reinhardt comes in the wake of differences of opinion regarding the implementation of the company's growth strategy. HUGO BOSS AG is grateful to Mr. Reinhardt for his successful endeavours over the past years, particularly in the demanding transitional stage over recent months, during which Mr. Reinhardt was responsible for coordinating Managing Board duties.

Dr. Martin Weckwerth, member of the HUGO BOSS AG Supervisory Board and majority shareholder representative, stated: "Over recent months, Mr, Reinhardt took on a wider range of duties and was successful in ensuring the stability and continuity of the management of HUGO BOSS AG. We are grateful for the commitment he has always shown to the interests of the company and wish him every success in his professional and personal life in the future."

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