On Thursday August 11, 2011, Fossil, Inc. (NASDAQ:FOSL), a globally renowned company extensively involved in the designing, marketing and distribution of wide range of fashion accessories, announced the expansion of its Board of Directors with the appointment of Gary Kusin, with effect from today. The Company’s Board of Directors now comprises of ten members, including eight independent directors and two members of senior management.
Gary Kusin, a BA graduate from the University of Texas at Austin, and has completed his MBA from the Harvard Business School, inherits an extensive career in the realm of fashion industry. He is a Senior Advisor to TPG, a private equity firm based in San Francisco and Ft. Worth. Prior to TPG, he was former president and chief executive officer of FedEx Kinko’s. Earlier in his career he has held the post of chief executive officer of HQ Global Workplaces, now a part of Regus. In 1995, Mr. Kusin co-founded Laura Mercier Cosmetics. He has also rendered service as president and co-founder of Babbage’s Inc., and as vice president and general merchandise manager for the Sanger-Harris division of Federated Department Stores, today renowned as Macy’s.
Mr. Kusin has been felicitated with the “Entrepreneur of Year” award by an Inc. magazine. At present, he serves on the board of directors of Petco, Sabre Holdings, American Tire Distributors and Republic- a UK based men’s and women’s fashion apparel retailer.
Kosta Kartsotis, Chairman and Chief Executive Officer of the Company, exclaimed that they are pleased to include Gary in the Board, and is convinced that his extensive entrepreneurial experience will prove to be efficient in the execution of the company’s growth strategies.
Fossil is extensively involved in the production of wide range of men’s and women’s fashion watches and jewelry, namely handbags, small leather goods, belts, sunglasses, soft accessories, shoes, and clothing. The products are sold under proprietary and licensed brands attracting style-conscious across the globe.
Shares of FOSL climbed 5.21% to $89.73.
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