Deadline Detroit earlier today posted a commentary by a free lance writer critical of Shinola founder Tom Kartsotis because of Fossil Inc.’s decision to outsource more than 100 jobs overseas.
While Mr. Kartsotis was Fossil’s co-founder, a spokeswoman for Shinola says he no longer has any ties to Fossil except for ownership of a small amount of shares.
The criticism of Mr. Kartsotis and Shinola was unfounded, and Deadline Detroit regrets publication of the commentary. The commentary has been taken down from the site.
Shinola's representative issued this statement Monday morning:
Tom Kartsotis left FOSSIL in 2010 in order to pursue more creative and philanthropic endeavors. Over the years he has divested most of his shares but does still own a small stake in FOSSIL. Tom has no affiliation with FOSSIL except for his small shareholding which remains as a ‘rooting interest’ for all the wonderful people who have built that amazing Company over the years.
