Annual Report 2023

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As an international Company, HUGO BOSS is aware of its corporate responsibility vis-à-vis employees, society, and the environment. In this context, responsible corporate action is an important prerequisite for ensuring competitiveness and long-term business success. Consequently, HUGO BOSS not only places the highest demands on innovation and the quality of its products, but also takes environmental and social factors into account in all activities along the value chain. With sustainability being an integral part of its business activities, HUGO BOSS developed its new Sustainability Strategy in 2023, focusing on five strong pillars all aimed at actively driving change within the fashion industry and supporting the creation of a planet free of waste and pollution. HUGO BOSS always complies with the applicable regulatory frameworks as well as its internal guidelines. Sustainability

Corporate compliance

HUGO BOSS operates in a large number of countries and therefore in different legal frameworks. At HUGO BOSS, corporate compliance is a key responsibility of the Managing Board, comprising measures to ensure adherence to statutory and other legal requirements, internal corporate policies, and codices. This includes, among other things, data protection, antitrust and anti-corruption regulations, as well as the provisions of capital market law. HUGO BOSS expects all employees to act in a legally impeccable manner at all times in their day-to-day work.

The Compliance & Human Rights Officer reports to the General Counsel in his role as Chief Compliance Officer and supports the Managing Board in monitoring effective compliance management. Together with the compliance officers in the Group companies, the Compliance & Human Rights Officer ensures that the compliance program is implemented and continuously developed throughout the Group. The Audit Committee is regularly informed about the activities of the Compliance department.

HUGO BOSS has summarized Group-wide principles of conduct in a Code of Conduct and in more detailed Group policies, thus creating the basis for ensuring the legality of all employee activities. The focus is on regulations governing conduct in compliance with competition and antitrust law, the avoidance of conflicts of interest, the appropriate handling of company information, data protection, fair working conditions and respectful treatment, as well as anti-corruption. Employees are continuously familiarized with the regulations of the Code of Conduct and the Group policies. In addition to face-to-face training sessions, HUGO BOSS also offers an e‑learning program to be completed regularly by all employees with computer access. HUGO BOSS does not tolerate any form of deliberate misconduct or persistent violations of the Code of Conduct and the Group policies.

Employees can obtain support and advice on matters concerning legal conduct from their supervisors or the Compliance department. As a supplementary reporting channel, HUGO BOSS has also established a Group-wide ombudsperson system. Employees, suppliers, and trading partners can contact an external ombudsperson in confidence in case of any indications of fraud, infringements of antitrust law, or breaches of compliance guidelines. If desired, this can also be done anonymously. The ombudsperson’s contact details are available to all employees via the Company’s intranet and can also be found on the corporate website. The same applies to the HUGO BOSS ”Speak up Channel,” which also offers the opportunity to report misconduct and criminal offenses confidentially and anonymously. HUGO BOSS has also published important information on the protection of whistleblowers and the handling of reports in a whistleblower policy on the corporate website and intranet.

Capital market communication

HUGO BOSS reports regularly, comprehensively, and without delay on its business development, operational and financial performance, as well as material changes within the Group. The Investor Relations activities include regular dialog with institutional investors, financial analysts, and private shareholders. As part of the annual and quarterly financial results releases, audio or videoconference calls are held for financial analysts and institutional investors to elaborate on the operational and financial performance. The Group’s strategy and relevant strategic developments are also discussed in detail at a Capital Markets Day on a regular basis. In addition to dedicated events at which HUGO BOSS presents itself to private investors, the Annual General Meeting offers a further opportunity to obtain comprehensive information about the Company’s performance. All key information and financial releases, such as press releases, voting rights notifications, financial reports, the financial calendar, and presentations of roadshows and conferences, are published on the corporate website.