Nicolas Hayek

About Nicolas Hayek

Birth Day: February 19, 1928
Birth Place: Switzerland
Died On: 28 June 2010(2010-06-28) (aged 82)\nBiel/Bienne, Switzerland
Birth Sign: Pisces
Occupation: Businessman
Title: Swatch Group, Founder/Chairman

Nicolas Hayek Net Worth

Nicolas Hayek was bornon February 19, 1928 in Switzerland. Orchestrated merger of troubled Swiss watchmakers SSIH (Omega, Tissot) and ASUAG 1983; introduced popular low-cost "Second Watch." Company renamed The Swatch Group 1998. Acquired luxury time-piece brand Breguet a year later. Struck licensing deal with Tiffany 2007. Swatch Group's sales in 2009: $5 billion, down 6.3% (holding exchange rates constant). Shares up 160% in 12 months. Son Nick Jr. serves as chief executive; Hayek still advises on major decisions.

💰 Net worth: $3.9 Billion

Some Nicolas Hayek images

Biography/Timeline

1963

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.

1980

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.

2010

Hayek died unexpectedly on 28 June 2010 of cardiac arrest during work at the Swatch Group headquarters in Biel.