Fossil CFO to retire in March 2013

Fashion accessories-maker Fossil Inc , which sells the Michael Kors and the Marc by Marc Jacobs brands, said its Chief Financial Officer Michael Kovar will retire in March 2013.

The company, whose products include watches, jewelry, handbags and leather goods, said it has begun the search for Kovar's successor.

Kovar joined Fossil in March 2000 and was promoted to CFO in October the same year.

Shares of the Richardson, Texas-based company were flat at $83.80 on the Nasdaq on Thursday. (Reporting By Maria Ajit Thomas in Bangalore; Editing by Sreejiraj Eluvangal)