Some sad news from the SWATCH camp. “Nicolas Hayek, one of the country’s best-known managers, has often been described as the savior of the Swiss watch industry, which nearly collapsed during the 1970s before Hayek’s Swatch group launched the plastic watch of the same name, which became an international success. ‘With deep sadness and regret we inform you that Nicolas G. Hayek unexpectedly passed away today due to heart failure during work at his beloved Swatch Group,’ the company said.” SWATCH changed the face of the watch market with it’s explosion in the USA and beyond during the 80’s and 90’s (and today). (wsj)
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