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Swatch founder dies
Tuesday June 29, 2010 - Email this article to a friend
The man credited with saving the Swiss watch industry has died at the age of 82. Nicolas Hayek, died of heart failure while at work this week.
He made the company into the world's biggest watchmaker.
Swatch is credited with saving the Swiss watch making industry as it faced stiff competition for Japan back in the 1980's.
Hayek was one of the most well-known and liked Swiss business leaders.
It is now the world's biggest watchmaker and has sales of more than 6bn Swiss francs (£3.7bn).
"Nicolas Hayek's extraordinary vision enabled him to realise and ensure the sustainability of a strong watchmaking enterprise with high Swiss added value," the company said in a statement.
"He is rightly recognised as a leading entrepreneur in this country," the group said.
Swatch was formed from the merger of the Asuag and SSIH watch companies in 1985.
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