Annual Report 2020

Corporate governance practices

As an internationally operating Group, HUGO BOSS is fully aware of its corporate responsibility to its employees, society and the environment. Consequently, responsible corporate actions are an important prerequisite for ensuring competitiveness and long-term success. Thus, HUGO BOSS not only places the highest demands on the quality of its own products but also takes account of social and ecological factors in all activities along the value chain. Corporate responsibility is divided into six fields of action: we, environment, employees, partners, product and society. In this context, HUGO BOSS always acts in compliance with the current regulatory frameworks as well as its internal guidelines. Sustainability

Corporate compliance

HUGO BOSS AG and the Group companies operate in many different countries and therefore in different legal systems. For HUGO BOSS, corporate compliance is a key responsibility of the Managing Board, covering measures to ensure adherence to statutory and other legal guidelines, internal guidelines and codes. These include data protection, antitrust and anti-corruption regulations as well as provisions under capital market legislation. HUGO BOSS expects all employees to act legally at all times in day-to-day business operations.

The Compliance Officer reports directly to the CFO in his role as Chief Compliance Officer and supports the Managing Board in the monitoring of effective compliance management. Together with the compliance officers at the Group Companies, he ensures that the compliance program is implemented and continuously updated across the entire Group. The Audit Committee is kept regularly informed of the Compliance department’s activities.

HUGO BOSS has summarized Group-wide principles of good conduct in a Code of Conduct as well as in more detailed Group policies, thus creating the basis for ensuring the legality of all employee activities. The Group policies include in particular rules governing conduct in competition, the avoidance of conflicts of interest, the appropriate handling of company information, data protection, respect for fair working conditions and conduct as well as anti-corruption. Employees are familiarized with the provisions of the Code of Conduct and the Group policies on an ongoing basis. To this end, HUGO BOSS runs face-to-face training sessions and has also set up a global e‑learning program that all employees with access to a PC must complete on a regular basis. HUGO BOSS does not tolerate any willful misconduct or persistent infringements of the Code of Conduct.

Employees can obtain support and advice on matters concerning legal conduct from their line managers or the internal Compliance department. As a supplementary reporting channel, HUGO BOSS has also established a Group-wide ombudsman system. Employees, suppliers and trading partners can notify an external ombudsman in confidence if there are any indications of fraud, infringements of antitrust law or other compliance breaches. If desired, it is also possible to do this anonymously. The ombudsman’s contact details are available to all employees via the Company’s intranet and can also be found on the Company’s website.

Capital market communication

HUGO BOSS reports regularly, comprehensively and without delay on its business situation, operational and financial developments as well as relevant changes within the Group. The investor relations activities include regular dialog with institutional investors, financial analysts and private shareholders. On the date of publication of the annual and quarterly financial results, telephone conferences are held for financial analysts and institutional investors. The Group’s strategy and relevant developments are discussed in detail at Investor Days on a regular basis. In addition to particular information events for private shareholders, the Annual Shareholders’ Meeting offers an opportunity to obtain information about the Company’s performance comprehensively, either in person or online. All key information, such as press releases, voting rights notifications, financial reports, the financial calendar as well as presentations of roadshows and conferences, is published on the Company’s website.

Read more