Nicolas Hayek, founder and chairman from 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 inside the Swiss observe industry. Nicolas G Hayek's greatest merit was his enormous contribution towards the saving in the Swiss look at industry and the foundation and also the commercial development in the Swatch Team, the company mentioned in 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 Team.
Today, Swatch is the worlds biggest watchmaker, expected to record sales of $6.3 billion this yr.
The Swatch Group mentioned inside the release that using the correct 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 team management board.
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