Karachi, July 05, 2010 - Board of Directors of The Swatch Group Ltd recently announced that Mr. Nicolas G. Hayek, Chairman and Delegate of the Board of Directors of The Swatch Group Ltd. unexpectedly passed away today due to heart failure during work at his beloved Swatch Group.
Mr. Nicolas G. Hayek's greatest merit was his enormous contribution to the saving of the Swiss watch industry and the foundation and the commercial development of the Swatch Group. Mr. Nicolas G. Hayek's extraordinary vision enabled him to realize and ensure the sustainability of a strong watchmaking enterprise with high Swiss added value. He is rightly recognized as a leading entrepreneur in this country.
The Swatch Group owns numerous watch brands namely; Breguet, Blancpain, Glashütte Original, Jaquet Droz, Léon Hatot, Omega, Tiffany & Co. Union Glashütte, Rado, Longines, Tissot, Calvin Klein, Certina, Mido, Pierre Balmain, Swatch, Flik Flak, Endura. Some of the above mentioned brands of Swatch Group are being represented by the Pakistan’s oldest and famous luxury watch company “Collectibles”.
With the right personnel decisions, Mr. Nicolas G. Hayek also ensured that his ideas and beliefs will live on and that continuity is guaranteed in regard of shareholders, Board of Directors and the Group Management Board.
After this tragic incident, the Board of Directors of The Swatch Group Ltd. unanimously appointed Mr. Nicolas G. Hayek’s daughter Mrs. Nayla Hayek, until now Vice-President, as Chairwoman of the Board of Directors.
Mrs. Nayla Hayek has been prepared for this function during the past years and has longstanding experience within the Board of Directors. In addition, she was successfully active in various operational functions during the last years.
The Board of Directors has honored the immeasurable merits of Nicolas G. Hayek and will keep him in grateful memory as founder The Swatch Group Ltd. and visionary pioneer.
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