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.
The Managing Board and the Supervisory Board believe that good corporate governance is a key determinant of long-term business success. Good 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 dutybound to secure the Company’s continuation as a going concern and sustainable value added through responsible and transparent corporate governance that is geared to the long term. At the same time, HUGO BOSS wishes to justify and strengthen the trust that the employees, shareholders, business partners and general public place in it.
In fiscal year 2019, the Managing Board and Supervisory Board closely examined compliance with the requirements of the German Corporate Governance Code (GCGC). As a consequence, the declaration of compliance dated December 2019 was issued. It is published on the Company’s website. Apart from the exceptions discussed there, HUGO BOSS AG complies with the recommendations of the Code as amended on February 7, 2017, which was published in the Bundesanzeiger [German Federal Gazette] on April 24, 2017.