Dior CEO to lead German fashion house Boss: report

BERLIN, May 14, 2008 (AFP) - Claus-Dietrich Lahrs, the CEO of leading French fashion house Christian Dior Couture, will become head of German ready-to-wear company Hugo Boss, German daily Handelsblatt reported on Wednesday 14th.

Hugo Boss Black spring-summer 2008

Lahrs would replace Bruno Saelzer, who quit as managing board chief of Hugo Boss in February amid differences of opinion with Permira, the British investment fund that gained control of 80 percent of the group in mid-2007.

Senior staff have accused Permira of pillaging the company by pressing managers to pay high dividends to make a rapid return on its investment.

The tension has also triggered the resignation of the head of the Hugo Boss supervisory board, Guiseppe Vita.

Handelsblatt cited sources close to the company as saying Lahrs's appointment would be announced by the end of the week.

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