Swatch founder Hayek dead at 82
June 29th, 2010 - 12:57 am ICT by IANSGeneva, June 28 (DPA) Nicolas Hayek, the founder of Swatch, the world’s largest watchmaker, died Monday of a heart attack at the age of 82.
Hayek had left succession orders at the Swatch Group, where he served as chairman, and business activity had already been handed over to his son in 2003, the Swatch Group said, according to the SDA news agency.
Born in 1928 in Beirut, Hayek became a key figure on the Swiss business scene after he merged watchmakers that were being liquidated and formed Swatch in 1985.
At the time the Swiss horology industry was in crisis, in part because of cheaper competition from Asia.
The company now employs over 24,000 people and has annual sales of over $5 billion.
Hayek himself became known for his cigars, multiple watches, outgoing style and comments on politics and economics.
- Swatch co-founder Nicolas Hayek dead at 82 - Jun 29, 2010
- Swatch posts $714 mn dollar profit - Feb 09, 2010
- Mission to teach the luxury business in India - Feb 29, 2012
- Ratan Tata gets Swiss Ambassador's award - Oct 17, 2011
- Christie's to auction rare watches (With Images) - Apr 29, 2009
- Cuban rolls 80 m long cigar - May 04, 2011
- UN to examine legality of Swiss minaret ban - Dec 01, 2009
- Cuba to host international cigar festival - Feb 20, 2011
- Amsale Aberra's reality TV show in the pipeline - Jan 06, 2011
- Solar plane lands after first night flight (Lead, changing dateline) - Jul 08, 2010
- Salma Hayek's husband has a secret love child - Jul 03, 2011
- 28 Belgians die in Swiss bus accident (Evening Lead) - Mar 14, 2012
- Tech Mahindra, Mahindra Satyam to merge (Lead) - Mar 21, 2012
- 'Indian, Chinese tourists prefer Switzerland' - Jan 17, 2011
- Arrest warrant against Mukesh Ambani by Kerala consumer court - Dec 16, 2011
Tags: asia, beirut, business activity, business scene, cigars, dpa, economics, geneva, heart attack, horology, news agency, nicolas hayek, sda news, succession, swatch group, swiss business, watches, watchmaker, watchmakers