German fashion house Hugo Boss has named Mark Langer, its finance chief since 2010, as the company's new chief executive to bring the business back on track after disappointing results recently.
Langer replaces Claus-Dietrich Lahrs, who stepped down in February after a profit warning after a steep fall in sales in 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.
The new chief executive has a challenge on his hands as Hugo Boss has slashed sales forecasts in its major markets of China and the US. However, Lahrs has been with the company for 13 years.
Earlier this month the German company published sinking results of €93.5m in the first quarter. The group has already announced to close some unprofitable stores in order to make savings. Also, the group plans to spend less on marketing its women's lines and concentrate on its core menswear market.