Kanen Wealth Management Excoriates Fossil Board of Directors and Management for Unacceptably Slow Restructuring Plan
Judging by the actions of the board and management, there is a lack of urgency in executing its strategic initiatives and returning to profitability.
- Judging by the actions of the board and management, there is a lack of urgency in executing its strategic initiatives and returning to profitability.
- To date, we have little to show as a result of the Transform and Grow plan (TAG).
- Fossil shares are down approximately 80% since the plan was announced in February 2023.
- Management needs to take a faster approach in reducing expenses, identify profitable segments, and implement these measures in a rapid cadence.