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Hugo Boss CEO Resigns Amid Weak Sales in China

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Two days after Hugo Boss lowered its profit outlook citing a challenging market environment in China, the German luxury fashion company said its CEO is stepping down.

As of Feb. 29, Claus-Dietrich Lahrs will leave his post at the helm of Hugo Boss after eight years with the company and his replacement has not yet been named. For now, the company said in a statement, managing board members will assume Lahrs’ responsibilities, and it will deal with finding a new CEO “without delay.”

Read more at Sourcing Journal.