Corporate Governance practices
As an international Group with around 7,600 points of sale in 125 countries around the globe, HUGO BOSS is aware of its corporate responsibility to its employees, society, and the environment. Handling the core business responsibly is an important prerequisite for ensuring competitiveness and long-term success. In other words: our employees not only apply the very highest quality standards to our products and brands, but also consider social and ecological factors at every point along the value chain. Our corporate responsibility is divided into the key areas stakeholders, environment, employees, partners, products and society. HUGO BOSS always acts in compliance with the current regulatory frameworks as well as with the HUGO BOSS internal guidelines.
Further information can be found in the Sustainability section of our corporate website.
Good corporate governance is one of the fundamental principles of the HUGO BOSS Group and a crucial component for long-term success. In addition to responsible management of the Company for the benefit of employees, shareholders, and customers, good corporate governance also means appreciating and strengthening the confidence placed in the Company. For this reason, business activities focus on sustainably increasing enterprise value.
HUGO BOSS AG and the Group companies operate in many different countries and regions and therefore in different legal systems. Corporate compliance comprises measures to ensure adherence to legal and official regulations, the Company’s internal guidelines as well as codes which the Group has undertaken to observe. Corporate compliance and its observance by Group companies is seen as a major responsibility of the Managing Board at HUGO BOSS. This includes antitrust and anti-corruption regulations as well as provisions under capital market laws. HUGO BOSS AG expects all employees to act in a legally unobjectionable way in day-to-day business operations.
A compliance department that reports directly to the Chief Financial Officer as Chief Compliance Officer supports the Managing Board’s monitoring of effective compliance management. The central compliance office and compliance officers in the Group companies ensure that the compliance program is implemented throughout the Group and that it has been continually enhanced since its introduction. The Audit Committee is regularly informed about the compliance office’s activities.
To ensure the legally unobjectionable conduct of employees and establish a basis for this, HUGO BOSS has summarized principles of conduct applicable throughout the Group in a code of conduct and more in-depth corporate guidelines. The code of conduct and the corporate guidelines mainly focus on rules on conduct in competition, on avoiding conflicts of interest, on the appropriate handling of company information, on ensuring fair and respectful working conditions and on anti-corruption. HUGO BOSS does not tolerate willful misconduct or persistent infringements of the code of conduct.
Employees are familiarized on an ongoing basis with the rules of the code of conduct and the corporate guidelines and thus made aware of the importance of observing compliance rules. To this end, HUGO BOSS runs classroom training sessions and has also set up a worldwide e-learning program that the employees concerned have to complete regularly. The e-learning program is also being introduced at all HUGO BOSS subsidiaries.
Employees can obtain support and advice on issues concerning legally correct conduct from their superiors or the Compliance Officer. HUGO BOSS has also established a global ombudsman system as a supplementary reporting channel. Employees and third parties such as suppliers or customers can confidentially notify an ombudsman, whose contact details are given on the Company’s website, if there are indications of fraud, infringements of antitrust law or breaches of compliance guidelines. It is also possible to remain anonymous if desired.
Capital market communication
HUGO BOSS reports regularly and in a timely manner on the Company’s business development and on key strategic and operational initiatives, in order to ensure the utmost transparency and strengthen the confidence of shareholders, investors and the interested public. The Group’s investor relations activities include regular dialog with institutional investors, financial analysts and private shareholders. In addition to the annual press briefing and an analysts’ conference on the annual results, conference calls are held with financial analysts and investors when the reports for the first quarter, the first half and the first nine months of the year are published. The Group’s strategy and relevant developments are discussed in detail at an annual Investor Day. In addition to special information events at which the Group presents itself to private investors, the Annual Shareholders’ Meeting offers the opportunity to obtain information on the development of the Group quickly, comprehensively and effectively, either by attending the meeting or online.
All key information and publications can be accessed on the Group’s website at www.group.hugoboss.com. Also posted on the website is the financial calendar, which provides an overview of the most important dates. This is always kept up to date and is also included in the annual and quarterly reports. Information on current developments and all capital market news is also published there. Those interested can also subscribe to an electronic newsletter to receive up-to-date information about news from the Group.