Fossil Group, Inc Confirms Receipt of Director Nominations from Buxton Helmsley Group, Inc
February 21, 2024 at 06:13 am EST
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On February 20, 2024, Fossil Group, Inc announced that it has issued a statement in response to notice that The Buxton Helmsley Group, Inc. has nominated 4 candidates to the Company Board of Directors at the Company?s 2024 Annual Meeting of Stockholders. The Company stated that its Board and management team are committed to serving the best interests of the Company and its stockholders and they regularly engage with stockholders and welcome constructive feedback on their shared goal of driving sustained stockholder value. Since September 15, 2023, the date of Buxton Helmsley?s first letter to the Company, the Company has repeatedly offered to engage with Buxton Helmsley, but each offer was rejected by Buxton Helmsley.
With respect to Buxton Helmsley's meritless allegations regarding the Company's accounting policies, the Company hereby confirms its financial statements are U.S. GAAP-compliant and audited by an independent auditor. The Company added that Board will review the nominations submitted by Buxton Helmsley consistent with its established Nominating and Corporate Governance Committee process and mentioned that the date of the Annual Meeting has not yet been announced. The Company recommended stockholders are not required to take any action at this time.
Fossil Group, Inc. is a design, marketing and distribution company that specializes in consumer fashion accessories. The Companyâs principal offerings include a line of men's and women's fashion traditional watches, smartwatches, jewelry, handbags, small leather goods, belts and sunglasses. Its segments include Americas, Europe and Asia. The Americas is comprised of sales from its operations in the United States, Canada and Latin America. Europe segment is comprised of sales to customers based in European countries, the Middle East and Africa. Asia segment is comprised of sales to customers based in Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Korea and Thailand. The Company's owned brands include FOSSIL, SKAGEN, MICHELE, RELIC and ZODIAC and licensed brands ARMANI EXCHANGE, DIESEL, DKNY, EMPORIO ARMANI, KATE SPADE NEW YORK, MICHAEL KORS, and TORY BURCH. Its products are distributed through wholesale, retail stores, commercial Website, and others.
FOSSIL GROUP, INC. 
