Swatch founder Nicolas Hayek dies
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Swatch founder Nicolas Hayek dies aged 82
Nicolas Hayek is credited with saving the Swiss watchmaking industry The founder of the Swiss watchmakers Swatch has died at the age of 82, the company has announced.
Nicolas Hayek, who was still chairman of the company, died unexpectedly of heart failure at work on Monday.
Mr Hayek has been widely credited with saving the Swiss watch industry when he founded Swatch in 1985.
It is now the world's biggest watchmaker and is expected to record sales of more than 6bn Swiss francs (£3.7bn; $5.5bn) this year.
"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.
The cheaper plastic watches developed by the new group under the Swatch brand helped the industry to compete with the increase in cheap Japanese exports.
R.I.P.
Nicolas Hayek is credited with saving the Swiss watchmaking industry The founder of the Swiss watchmakers Swatch has died at the age of 82, the company has announced.
Nicolas Hayek, who was still chairman of the company, died unexpectedly of heart failure at work on Monday.
Mr Hayek has been widely credited with saving the Swiss watch industry when he founded Swatch in 1985.
It is now the world's biggest watchmaker and is expected to record sales of more than 6bn Swiss francs (£3.7bn; $5.5bn) this year.
"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.
The cheaper plastic watches developed by the new group under the Swatch brand helped the industry to compete with the increase in cheap Japanese exports.
R.I.P.
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