Speaking to the Herald, Hugo said: "I think Dominic Raab would be a very strong candidate.
"He's best placed to deliver on Brexit and pull the party together.
"He's got a very strong background. He is an international lawyer and is very bright. I think he is what we need."
Mrs May announced her plans to step down as the leader of the Conservative party on June 7.
Among those vying to take her place is Jeremy Hunt, Sajid Javid, Michael Gove, Boris Johnson, Amber Rudd, Kit Malthouse and James Cleverly.
Hugo said: "In all fairness she was left in an extraordinary difficult position, but she made it worse by holding an election she didn't need to have, which was a disaster.
"It eroded our majority and made it very difficult to get any legislation through. I think some of her characteristics, which some of us have always known about, have come to the forefront and have proved to be the reason why she's lost the confidence of the party and the country.
"She is quite intransigent and doesn't really listen or emote and it seems to me, to be in politics today, you need at least be a good communicator and take people with you and she has been unable to do that.
"The way I liken it is, at the moment we are in a car at the bottom of a hill with a very long line of traffic going up to these very distance traffic lights and we are all getting completely consumed by the fumes from the cars ahead of us, we are stuck there and the traffic lights are never changing. So we just sit there and hope one day it will change - or we change the driver, pull out the queue and take a different route and that is going to be what we have to do.
"Raab will still try and do a deal and it will still involve the backstop issue, but we leave the EU in October".