Fossil, Inc. Appoints Dennis R. Secor Executive Vice President, Chief
Financial Officer and Treasurer
RICHARDSON, Texas, Nov. 8, 2012 (GLOBE NEWSWIRE) -- Fossil, Inc. (Nasdaq:FOSL)
(the "Company") today announced the appointment of Dennis R. Secor as
Executive Vice President, Chief Financial Officer and Treasurer effective
December 10, 2012. Mr. Secor will report directly to Kosta N. Kartsotis, Chief
"We are very excited to have Dennis join our team. He brings diverse industry
and international experience along with strong business and customer focus.
Dennis has a proven ability to lead teams and drive strategic growth
initiatives which make him an excellent fit for Fossil at this stage of our
lifecycle," said Mr. Kartsotis.
As previously announced, Mike L. Kovar, the Company's current Executive Vice
President, Chief Financial Officer and Treasurer, will retire from the Company
in March 2013. Effective with the appointment of Mr. Secor on December 10,
2012, Mr. Kovar will resign as Chief Financial Officer and Treasurer and
assist Mr. Secor as he transitions into his new role with the Company.
Mr. Secor currently serves as Senior Vice President and Chief Financial
Officer for Guess?, Inc.Guess? designs, markets, distributes and licenses a
lifestyle collection of contemporary apparel, denim, handbags, watches,
footwear and other fashion accessories.Guess? is publicly traded and is
listed on the New York Stock Exchange under the ticker symbol GES.Mr. Secor
joined Guess? in July 2006.Prior to joining Guess?, Mr. Secor served as Vice
President and Chief Financial Officer for Electronic Arts (Canada), Inc.from
August 2004 until July 2006.Electronic Arts develops, markets, publishes, and
distributes game software content and services for video game consoles,
personal computers, mobile phones, tablets and electronic readers, and the
Mr. Secor received his Bachelor of Business Administration – Accounting from
the University of San Diego.
Certain statements contained herein that are not historical facts constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 and involve a number of risks and
uncertainties.The actual results of the future events described in such
forward-looking statements could differ materially from those stated in such
forward-looking statements.Among the factors that could cause actual results
to differ materially are: changes in economic trends and financial
performance, changes in consumer demands, tastes and fashion trends, lower
levels of consumer spending resulting from a general economic downturn, shifts
in market demand resulting in inventory risks, changes in foreign currency
exchange rates, difficulties in integrating the recently acquired Skagen
Designs, Ltd. businesses, and the outcome of current and possible future
litigation, as well as the risks and uncertainties set forth in the Company's
Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and its
Quarterly Reports on Form 10‑Q filed with the Securities and Exchange
Commission (the "SEC").
Fossil is a global design, marketing and distribution company that specializes
in consumer fashion accessories.The Company's principal offerings include an
extensive line of men's and women's fashion watches and jewelry sold under
proprietary and licensed brands, handbags, small leather goods, belts,
sunglasses, soft accessories, shoes and clothing. In the watch and jewelry
product categories, the Company's offerings include a diverse portfolio of
globally recognized proprietary and licensed brand names under which its
products are marketed. The Company's extensive range of accessory products,
brands, distribution channels and price points allows it to target
style-conscious consumers across a wide age spectrum on a global basis.The
Company's products are sold to department stores, specialty retail stores and
specialty watch and jewelry stores in the U.S. and in approximately 120
countries worldwide through 23 Company-owned foreign sales subsidiaries and a
network of approximately 60 independent distributors.The Company also
distributes its products in over 400 Company-owned and operated retail stores
and through international e-commerce websites and the Company's U.S.
e-commerce website at www.fossil.com, where certain product, press release and
SEC filing information concerning the Company are also available.
The Fossil, Inc. logo is available at
CONTACT: Mike Kovar
Chief Financial Officer
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