Corporate Governance Report
Pursuant to Section 3.10 of the German Corporate Governance Code
HUGO BOSS has always been convinced that good and transparent corporate governance that adheres to German and international standards constitutes a significant determinant of the Company's success in the long term. Good corporate governance is therefore a matter of course and a benchmark that is set for all activities of the Company and the Group. The Managing Board and Supervisory Board consider themselves duty-bound to secure the continuation of the Company as a going concern and sustainable value added through responsible corporate governance that is geared to the long term. HUGO BOSS wants to justify the trust placed in it by investors, financial markets, business partners, employees, and the pubic, and continue to enhance the Group's corporate governance.
In fiscal year 2013, the Managing Board and the Supervisory Board dealt in detail with compliance with the requirements of the German Corporate Governance Code (GCGC). As a consequence, it was possible to issue the declaration of compliance dated December 2013, which is included at the end of this report and published on the website of HUGO BOSS AG together with past declarations of compliance. Apart from the exceptions discussed below, HUGO BOSS AG complies with the recommendations of the Code as amended June 15, 2012 – and, since its entering into effect, in the version dated May 13, 2013 – published in the Bundesanzeiger [German Federal Gazette] on June 10, 2013. Details are contained in the following report by the Managing Board and Supervisory Board.