This week Family Business Office for its twelfth edition of Focus On World Business Leaders brings you Nick Hayek, CEO of the world acclaimed Swatch Group, now in its second generation following on from inheriting from his father Nicholas G Hayek.
Hayek is the son of Lebanese-born Nicolas George Hayek, the late co-founder of the Swatch Group. He has a sister, Nayla. After graduating from high school, Hayek studied Marketing at the Universität St. Gallen for two years (without graduating) and was an intern in a foundry for half a year. He also attended Institut Montana Zugerberg in Zug, Switzerland. Afterwards, he spent five years in Paris. There, he studied at the Film Academy and founded a production company. The highlight of his career as a director is said to be the film Family Express (1992) with Peter Fonda.
In 1994 Hayek returned to Switzerland and joined the Swatch Group managed by his father, where he first worked as head of marketing at Swatch AG, then as president of the executive board, and finally as delegate of the board of directors. He has been CEO since 1 January 2003, and a member of the board of directors of the Swatch Group since 2010.
His sister Nayla Hayek has been chairman of the board of directors of the Swatch Group since the death of her father in June 2010. The Hayek family controls approximately 39% of The Swatch Group.
Together with his sister, Nayla Hayek, and his nephew Marc Alexander Hayek, member of the Executive Group Management Board, Nick, Jr. carries forward the legacy of his father, Nicolas G. Hayek, the founder and former Chairman and Delegate of the Board of Directors of the Swatch Group.
The Swatch Group Ltd. is the number one manufacturer of finished watches in the world. The Group is active in the manufacture of finished watches, jewellery, and watch movements and components. It produces nearly all of the components necessary to manufacture the watches sold under its 18 watch brands.
In the years ahead, the core business of the world’s largest manufacturer of finished watches will clearly remain in the watch industry. Swatch Group companies are constantly adding innovative new watches to the brand product lines, inspired by the grand traditions of Swiss quality and craftsmanship and made possible by the enormous resources the Group brings to bear through its technology research and development teams.
The successful introduction of jewelry products by selected brands has established a basis for a growing presence in this sector. A range of Group companies supply movements and components not only to Swatch Group brands, but to the entire Swiss watch industry and to selected watchmakers outside Switzerland.
Reference material obtained from Watchtime.com, Swatchgroup.com,and, Wallmine.com.
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