Good corporate governance as a key factor for long-term business success
Close and continuous dialog between Managing Board and Supervisory Board
Managing Board and Supervisory Board issue declaration of compliance
The Managing Board and the Supervisory Board are convinced that good corporate governance is a key factor for long-term business success. Good corporate governance is therefore an integral part of HUGO BOSS and an aspiration encompassing all areas of the Company. The Managing Board and Supervisory Board consider themselves obligated to ensure the Company’s continuation as a going concern as well as sustainable value creation through responsible, transparent, and long-term corporate governance. At the same time, HUGO BOSS aims to live up to and further strengthen the trust placed in the Company by its employees, shareholders, business partners and the general public.
In fiscal year 2021, the Managing Board and Supervisory Board dealt in detail with compliance with the requirements of the German Corporate Governance Code (GCGC) and, as a result, issued the Declaration of Compliance dated December 2021. It is included at the end of this chapter and, like previous declarations of compliance, published on the Company’s website. Apart from the exception mentioned therein, HUGO BOSS complies with the recommendations of the GCGC as amended on December 16, 2019, published in the Bundesanzeiger [German Federal Gazette] on March 20, 2020.
The Corporate Governance Statement (pursuant to Sec. 289f HGB [“Handelsgesetzbuch”: German Commercial Code]) contains, among other things, the declaration of compliance, disclosures on corporate governance practices, and a description of the working methods of the Managing Board and the Supervisory Board. It is also available at cgs.hugoboss.com.