The Managing Board and the Supervisory Board have reported as follows pursuant to Section 3.10 of the German Corporate Governance Code on corporate governance at HUGO BOSS:
Corporate governance has always counted highly at HUGO BOSS AG. The Managing and Supervisory Boards consider it their obligation to ensure the ongoing existence of the Company and the creation of sustained value added through responsible long-term corporate governance.
HUGO BOSS is convinced that good and transparent corporate governance which adheres to German and international standards is a key factor in the Group’s long-term success. Corporate governance is therefore part of the shared values of HUGO BOSS and a requirement that extends to every area of the Company. The Managing Board and Supervisory Board consider themselves duty-bound to secure the Company’s continuation as a going concern and sustainable value added through responsible corporate governance that is geared to the long term. HUGO BOSS wants to justify the trust placed in it by investors, business partners, employees and the public and continue to enhance the Group’s corporate governance.
In fiscal year 2016, the Managing Board and Supervisory Board closely examined compliance with the requirements of the German Corporate Governance Code (GCGC). As a consequence, it was possible to issue the declaration of compliance dated December 2016. Apart from the exceptions discussed there, HUGO BOSS AG complies with the recommendations of the Code as amended May 5, 2015, published in the Bundesanzeiger [German Federal Gazette] on June 12, 2015. Details are contained in the following report by the Managing Board and Supervisory Board.
HUGO BOSS AG
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