German fashion house Hugo Boss announced Monday that it has chosen chief financial officer Mark Langer to become the new chief executive after the resignation of the former head of the company following a profits fall. Langer, who has been with Hugo Boss for 13 years, will replace Claus-Dietrich Lahrs who stepped down in February after the group's financial forecasts for 2016 were slashed due to a slump in sales in the major markets of the United States and China. “Due to my long-standing work for Hugo Boss, I have a clear understanding of the company's potential and know what we need to do to get it back on track for profitable and sustainable growth,” Langer said in a statement.
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Hugo Boss picks financial chief Mark Langer as new CEO