Fossil Group, Inc. announced that Kosta N. Kartsotis is stepping down from his position as Chief Executive Officer, effective immediately. To ensure a seamless transition, Kartsotis will remain with the Company in a transitional role until September 2024 and, thereafter, will provide consulting services to the Company until September 2025. Jeffrey N. Boyer, the Company?s Executive Vice President and Chief Operating Officer since April 2021, has been appointed as Interim CEO, effective immediately.

Boyer has over 30 years of experience in retail and has been instrumental in leading key initiatives under the Company?s TAG Plan. He has been a member of the executive leadership team at Fossil Group since 2017 and has served as Chief Operating Officer since April 2021. He previously served as the Company?s Chief Financial Officer and Treasurer for four years and was a member of the Board of Directors for 10 years prior to joining the management team.

Prior to Fossil Group, he held executive leadership positions across the retail and consumer landscape, including Pier 1 Imports, Inc., Tuesday Morning Corporation, 24 Hour Fitness Worldwide Holdings, Inc., and Michaels Stores, Inc.  Prior to his work in retail, he served in leadership roles in several consumer product firms including The Pillsbury Company and Kraft General Foods.  Boyer is currently a member of the Board of Directors of Sally Beauty Holdings, Inc., where he serves on the Audit Committee and the Compensation and Talent Committee.