BUXTON HELMSLEY NOMINATES FOUR HIGHLY QUALIFIED DIRECTORS TO FOSSIL GROUP BOARD TO HELP END YEARS OF SHAREHOLDER SUFFERING
Sees Board and Management as Having Failed Shareholders While Overseeing Precipitous Decline in Stock Price and Failing to Take Most Basic Steps to Restore Market Confidence;
FOSL Shares Have Lost 97% of Value Since CEO
Fossil CFO Sunil Doshi Inappropriately Answered or Altogether Refused to Answer Basic Accounting-Related Due Diligence Questions Over Financial Statements Bearing His Signature
Believes Without Meaningful Board and Management Change, Fossil Shareholders Face Imminent Irreparable Harm
"The facts under the current regime are disturbing: Fossil's stock price has dropped approximately 97% since CEO
"Moreover, the Board's actions (including strapping CFO
"Given the Board's abysmal judgement and failure to oversee management for years, the need for immediate change at Fossil is abundantly clear. As a result, Buxton Helmsley is nominating four highly qualified directors with the required skillsets, financial and operational acumen, track records of creating shareholder value, and integrity to restore Fossil's credibility and rebuild trust with investors. Our nominees include
BHG's Director Nominees include:
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Pamela B. Corrie –Ms. Corrie has over 25 years of experience in complex corporate turnarounds and restructuring strategies. After practicing law at Weil, Gotshal & Manges for a decade,Ms. Corrie served in extensive executive leadership roles, including as the General Counsel for Risk and Restructuring at General Electric Capital Corporation,Americas and Chief Restructuring Officer ofABC Carpet and Home, Inc. She also served as Chief Executive Officer, Corporate ofEpiq Systems, Inc. , a provider of legal and business services. She previously held or currently holds board positions at Burford Capital, ,Spark Networks SE AIG Financial Products ,IFit Health and Fitness Inc. ,AM Castle ,Carl Marks Advisors ,Boxed, Inc. *,Lord & Taylor ,Pier 1 Imports, Inc. *, andBed, Bath & Beyond * (director of 15 subsidiaries), among others. (*Ms. Corrie's appointment to these companies as a director has been in her capacity as a restructuring professional). -
Charles Garcia –Mr. Garcia is an accomplished leader in executive development for Fortune 500 companies, financial institutions, and financial technology firms, starting his own company,Climb Leadership International , in 2013. He has built a career focused on the capital markets and financial services industries, having previously served as a managing director atCitadel , and before that, as a director of business development at BlackRock. He began his career at Bloomberg where he later spearheadedBloomberg LP's strategic launch acrossLatin America .Mr. Garcia has also served as an adjunct professor atColumbia University and as a professor and assistant dean atLong Island University'sSchool of Business . -
Deirdre A. O'Connor –Ms. O'Connor is a successful business leader with extensive governance, legal, finance and restructuring experience. She is a managing director atEpiq Systems, Inc. , where she rebuilt Epiq's restructuring business to drive revenue growth by approximately 1,400% over the course of three years. Prior to Epiq, she spent over ten years at theU.S. Department of Justice , overseeing some of the largest in-court restructurings in history, including that ofDelta Airlines .Ms. O'Connor also previously served as managing director at Wells Fargo Capital Finance, where she positioned the business to a place of prominence in the restructuring lending space. She has served in directorship positions atABC Carpet & Home, Inc. ,LUSH USA (court-appointed), on theCelsius Network Litigation Oversight Committee and at the Connecticut Democracy Center. -
Rumbi B. Petrozzello –
Ms. Petrozzello has significant experience in accounting and forensic investigation matters and holds the professional designations of Certified Public Accountant (CPA), is Certified in Financial Forensics (CFF), and is also a Certified Fraud Examiner (CFE). She is a principal ofRock Consulting , where she provides consulting services related to ensuring internal controls adequacy at organizations, in addition to providing litigation support related to accounting and financial matters. She is also Head of Strategy, Consulting at Seramount, a professional services and research firm committed to advancing high-performing, inclusive workplaces. Previously, she was president at theNew York Society of CPAs .
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