In 1963, Hayek founded his own management consulting firm, the Zurich-based Hayek Engineering. Hayek made his mark quickly on the Swiss and European Business scene by consulting and effecting successful turnarounds at several of the largest European multinationals. One of his management credos was: "The rarest resources are entrepreneurial types in top management." By 1979, Hayek Engineering had over 300 clients in 30 countries. Hayek was Chairman of the Board and CEO of Hayek Engineering from its founding until his death.
In the early 1980s, Hayek was asked by a group of Swiss Bankers to oversee a liquidation of ASUAG and SSIH, two Swiss watch-making firms which were in turmoil due to heavy competition from Japanese watch manufacturers such as Seiko and Citizen Watch. Hayek believed that the Swiss watch Manufacturing industry could remain competitive and that ASUAG/SSIH could recover after a restructuring of operations and a repositioning of the different brands.
Hayek died unexpectedly on 28 June 2010 of cardiac arrest during work at the Swatch Group headquarters in Biel.