Swatch Quashes US Activist Attempt to Shake Up Hayek Stronghold

Shareholders of The Swatch Group AG rejected US activist investor Steven Wood’s push for a seat on the watchmaker’s board of directors for a second time, reinforcing the controlling Hayek...

By Allegra Catelli · Bloomberg Markets

Shareholders of The Swatch Group AG rejected US activist investor Steven Wood’s push for a seat on the watchmaker’s board of directors for a second time, reinforcing the controlling Hayek family’s hold on the company.