Buxton Helmsley reaches agreement with Fossil Group (FOSL) Board

Key Summary: On Feb 20, 2024, Buxton Helmsley Group planned to nominate 4 directors to Fossil's Board, criticizing leadership for stock decline and strategic errors, proposing expertise to restore trust. On March 25, 2024, the company entered into an agreement with Buxton Helmsley Group.

Market Cap: $55 million | Fossil Group, Inc., together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. 

• On February 20, 2024, the Buxton Helmsley Group (1.4%) announced its intention to nominate four directors to Fossil's Board, citing concerns about the company's declining stock price and management's strategic missteps. BHG criticized Fossil's leadership for failing to create shareholder value and proposed candidates with relevant expertise to restore credibility and improve investor trust. Source

• On March 25, 2024, the company entered into an agreement with Buxton Helmsley Group and pursuant to it, the company will appoint Pamela B. Corrie as a new member of its board of directors and the Nominating and Corporate Governance Committee. Ms. Corrie, referred to as the Investor Director, will also be nominated for election at 2024 AGM.