Corporate Governance and the Corporate Governance Statement
- Good corporate governance as a key factor for the Company’s long-term success
- Close and continuous cooperation between Managing Board and Supervisory Board
- Managing Board and Supervisory Board issue declaration of compliance
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 obliged to ensure the Company’s continuation as a going concern and sustainable value creation through responsible, transparent and long-term corporate governance. At the same time, HUGO BOSS wishes to justify and strengthen the trust that the employees, shareholders, business partners and general public place in the Company.
In fiscal year 2020, 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 2020 was issued. It is reproduced in this report and, like earlier declarations of compliance, is published on the Company’s website. Apart from the exceptions discussed there, HUGO BOSS AG complies with the recommendations of the GCGC as amended on February 7, 2017, which was published in the Bundesanzeiger [German Federal Gazette] on April 24, 2017 and as amended on December 16, 2019, which was published in the Bundesanzeiger [German Federal Gazette] on March 20, 2020.
The Corporate Governance Statement (in accordance with Sec. 289f HGB [“Handelsgesetzbuch”: German Commercial Code]) contains the declaration of compliance, disclosures relating to corporate governance practices and a description of the way in which the Managing Board and Supervisory Board work. It is also available at cgs.hugoboss.com.