Fossil CFO to retire next March

RICHARDSON, Texas — Fashion accessories retailer, Fossil Inc., announced that Michael L. Kovar will retire as CFO in March 2013. Kovar joined the company in March 2000 and was promoted to CFO in October 2000. The company is commencing a search for his successor.

"Mike has been an integral part of our executive team as we have driven the Company's sales and earnings growth dramatically over the last twelve years," said Mr. Kosta Kartsotis, the company's chairman and CEO.

"Leading the finance function at Fossil has been a wonderful experience, both personally and professionally. Fossil's prospects have never been brighter and I look forward to watching its continued success as I pursue personal interests and spend more time with my family," said Kovar.