Nicolas Hayek was bornon 19 February 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.
Hayek died unexpectedly on 28 June 2010 of cardiac arrest during work at the Swatch Group headquarters in Biel
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
" By 1979, Hayek Engineering had over 300 clients in 30 countries
In 1963, Hayek founded his own management consulting firm, the Zurich-based Hayek Engineering
Nicolas George Hayek (19 February 1928, Beirut – 28 June 2010, Biel/Bienne), was a Swiss-Lebanese entrepreneur, co-founder, CEO and Chairman of the Board of the Swatch Group, with principal headquarters in Biel/Bienne