Fossil appoints Dennis R. Secor as CFO Fossil announced the appointment of Dennis R. Secor as Executive Vice President, CFO and Treasurer effective December 10. Secor will report directly to Kosta N. Kartsotis, CEO. As previously announced, Mike L. Kovar, the Company's current Executive Vice President, Chief Financial Officer and Treasurer, will retire from the Company in March 2013. Effective with the appointment of Secor on December 10 Kovar will resign as CFO and Treasurer and assist Secor as he transitions into his new role with the Company.
Fossil downgraded to Neutral from Overweight at Piper Jaffray Piper Jaffray downgraded Fossil to Neutral saying the company's North American growth could slow further while foreign currency is a headwind with a third of its sales coming from Europe. Piper lowered its price target for shares to $104 from $133.