Nicolas Hayek, founder and chairman in the Swatch Team LTD passed away yesterday due to heart failure at the age of 82 years. This unfortunate incident took place at the Swatch Group offices although he was at work on Monday June 28th.
Nicolas Hayek has always been recognized for his extraordinary vision and leading entrepreneurship in the Swiss view industry. Nicolas G Hayek's greatest merit was his enormous contribution for the saving of the Swiss observe industry and the foundation along with the commercial development from the Swatch Team, the company stated inside a statement.
Swatch was born the early 1980s when Hayek was hired to advise two struggling Swiss view companies. Rather than follow the accepted opinion that Switzerland watchmaking industry was dying, Hayek merged the two companies to create Swatch Group.
Today, Swatch is the worlds biggest watchmaker, expected to record sales of $6.three billion this year.
The Swatch Team stated within the release that using the appropriate personnel decisions, Hayek, also ensured that his ideas and beliefs will live on and that continuity is guaranteed in regard of shareholders, board of directors as well as the group management board.
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