Hugo Boss Promotes Finance Chief to Lead Clothier’s Revival

Hugo Boss AG promoted its finance chief to lead a turnaround effort at the embattled German fashion house. Mark Langer will become both chief executive officer and chairman of the managing board, Metzingen, Germany-based Hugo Boss said in a statement Monday. He succeeds Claus-Dietrich Lahrs, who left earlier this year after a series of profit warnings and a plunge in the shares.
Langer, who joined 13 years ago and became chief financial officer in 2010, will seek to bring stability to a company that this month reported the biggest decline in quarterly profit in at least six years. The German fashion label, best known for men’s apparel such as suits and jackets, is paring back the network that Lahrs expanded until rampant cost increases and discounts led him to resign

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