Fossil Group (FOSL) has issued an announcement.
Fossil Group, Inc. announced a leadership transition with Jeffrey N. Boyer stepping down as Interim CEO and board member to become Chief Operating Officer, effective September 18, 2024. Franco Fogliato, with vast experience in executive roles at global brands, is set to take over as CEO and join the board on the same date. Fogliato’s compensation includes a base salary of $1.1 million, a target bonus of 130%, and potential equity grants under the company’s incentive plan. His appointment comes with specific terms regarding bonuses, stock vesting, and severance arrangements, aligning with the company’s executive compensation policies.
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