8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 20, 2007

FOSSIL, INC.

(Exact name of registrant as specified in its charter)

Delaware	0-19848	75-2018505
(State or other jurisdiction of	(Commission File Number)	(IRS Employer
incorporation or organization)		Identification No.)

2280 N. Greenville Avenue
Richardson, Texas	75082
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (972) 234-2525.

_____________________________________________________________________________________

(Former name or former address, if changed since last report)

________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)  

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)  

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))  

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02.      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 20, 2007, Jeffrey N. Boyer, Elysia Holt Ragusaand James E. Skinnerwere appointed to the Board of Directors (the “Board”) of Fossil, Inc. (the “Company”) effective December 20, 2007.  Mr. Boyer and Mr. Skinner will both serve on the Audit Committee of the Board.

Mr. Boyer, Ms. Ragusa and Mr. Skinner are not parties to any arrangement or understanding with any person pursuant to which they were appointed as directors, nor are they parties to any transactions described in Item 404(a) of Regulation S-K involving the Company or any of its subsidiaries.

For their service on the Board, Mr. Boyer, Ms. Ragusa and Mr. Skinner each will receive the Company’s normal compensation for a non-employee director.  Such compensation consists of an annual retainer of $30,000, a fee of $1,500 for each in-person meeting, and a fee of $1,000 for each telephonic meeting in excess of one hour.  In addition, pursuant to the Company’s Nonemployee Director Stock Option Plan, Mr. Boyer, Ms. Ragusa and Mr. Skinner each will receive a grant of non-qualified stock options to purchase 5,000 shares of common stock on the date of becoming a director and an additional grant of non-qualified stock options to purchase 4,000 shares of common stock on the first day of each calendar year if they are then serving as a non-employee director.  For their service on the Audit Committeee, Mr. Boyer and Mr. Skinner will each receive an annual retainer of $2,500, a fee of $1,250 for each in-person meeting, and a fee of $1,000 for each telephonic meeting in excess of one hour.

On December 20, 2007, the Company issued a press release announcing the appointment of Mr. Boyer, Ms. Ragusa and Mr. Skinner, which release is incorporated herein for all purposes.  A copy of the press release is attached as Exhibit 99.1 to this report.

Item 9.01                      Financial Statements and Exhibits.

(d)           Exhibits

99.1           Press Release, dated December 20, 2007, announcing appointment of directors.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated:	December 20, 2007
		FOSSIL, INC.
		By:	/s/ Mike Kovar
			Mike L. Kovar
			Senior Vice President and Chief Financial Officer

	EXHIBIT INDEX
Exhibit No.	Description
99.1	Press Release, dated December 20, 2007, announcing appointment of directors.

EX-99.1

 

Contact:	Mike Kovar
	Chief Financial Officer
	Fossil, Inc.
	(469) 587-3334
Investor Relations:	Allison Malkin
	Integrated Corporate Relations
	(203) 682-8200

FOSSIL, INC. APPOINTS JEFFREY N. BOYER, ELYSIA HOLT RAGUSA AND JAMES E. SKINNER

TO ITS BOARD OF DIRECTORS

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Richardson, TX. December 20, 2007 -- Fossil, Inc. (NASDAQ: FOSL) announced the appointment of Jeffrey N. Boyer, Elysia Holt Ragusa and James E. Skinner to its Board of Directors effective December 20, 2007.  With the appointments, the size of the Company’s Board of Directors is thirteen (13) members, including nine (9) independent directors and four (4) members of senior management.

Kosta Kartsotis, Chief Executive Officer of the Company said, “We are delighted to have Jeffrey Boyer, Elysia Ragusa and James Skinner join the Fossil Board, adding to its diversity and strength.  Their significant accomplishments and strong business acumen are expected to contribute solidly to our Company, as we continue to execute our growth strategies.”

Mr. Boyer serves as President and Chief Financial Officer of Michaels Stores, Inc.  He has been with Michaels since 2003 and has also held the positions of Executive Vice President and Co-President.  Prior to joining Michaels, he served as the Executive Vice President and Chief Financial Officer of the Kmart Corporation.  From 1996 until 2001, he held multiple positions with Sears, Roebuck & Company, advancing to the post of Senior Vice President and Chief Financial Officer.  He also served in multiple top-level capacities with the Pillsbury Company and Kraft General Foods.  Mr. Boyer began his career as an accountant with PricewaterhouseCoopers in 1980.

Ms. Ragusa currently serves as President, Corporate Services-East Staubach Holdings, Inc., overseeing all Staubach North American Corporate Services Operations from Phoenix to Boston.  She is a member of both the Executive Committee and The Staubach Company’s Board of Directors.  Ms. Ragusa served as President and Chief Operating Officer of The Staubach Company from July of 2001 until June of 2007.    Prior to her role as President and Chief Operating Officer, Ms. Ragusa was President of The Staubach Company’s Southwest Corporate Services Division.  Ms. Ragusa serves on the Board of Directors of Palm Harbor Homes and is also a member of the Dallas Citizens Council, International Women’s Forum, the Dallas County Community College Foundation Board and the University of Texas McCombs School of Business Advisory Board.

Mr. Skinner serves as Executive Vice President and Chief Financial Officer of The Neiman Marcus Group, Inc.  From 2001 until October 2007, he held the position of Senior Vice President and Chief Financial Officer of The Neiman Marcus Group, Inc.  He served as Senior Vice President and Chief Financial Officer of CapRock Communications Corp. in 2000.  From 1991 until 2000, Mr. Skinner served in several positions with CompUSA Inc., including Executive Vice President and Chief Financial Officer beginning in 1994.  Mr. Skinner also served as a partner with Ernst & Young from 1987 until 1991.

About Fossil

Fossil is a global design, marketing and distribution company that specializes in consumer fashion accessories.  The Company's principal offerings include an extensive line of men's and women's fashion watches and jewelry sold under proprietary and licensed brands, handbags, small leather goods, belts, sunglasses, and apparel. In the watch and jewelry product category, the Company's offerings include a diverse portfolio of globally recognized proprietary and licensed brand names under which its products are marketed. The Company's extensive range of accessory products, brands, distribution channels and price points allows it to target style-conscious consumers across a wide age spectrum on a global basis.  The Company's products are sold to department stores, specialty retail stores, and specialty watch and jewelry stores in the U.S. and in over 90 countries worldwide through 21 company-owned foreign sales subsidiaries and a network of approximately 56 independent distributors.  The Company also distributes its products in over 230 company owned and operated retail stores and through the Company's e-commerce website at www.fossil.com, where certain product, press release and SEC filing information concerning the Company is also available.