Mike Ashley’s Frasers ousts Hugo Boss chairman

Frasers Group, the UK retail entity owned by Mike Ashley and parent to Sports Direct, Flannels and Jack Wills, has ousted the chairman of Hugo Boss. Stephan Sturm, who led the supervisory board of the German fashion house, has agreed to step aside following pressure from the largest shareholder. The departure follows clashes between Sturm and Frasers Group regarding dividend payments, as the retail group seeks to establish greater control over the luxury fashion brand's operations.