Dr Giuseppe Vita, who has been chairman of the board at Germany-based clothing, sportswear and cosmetics company Hugo Boss AG since 2000 is to step down on June 30.

Dr Vita said: "Because of other engagements I had planned for quite some time to step down from office. However, for purposes of continuity for the company, I was asked first by Valentino Fashion Group and then by Permira, as the respective majority shareholders, to remain in office during the phase of change to the new majority shareholder and to preside over the shareholders meeting on May 8, 2008. I have happily complied with this request."

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