Swatch chairman Hayek dies aged 82
Swatch's chairman and former chief executive Nicolas Hayek has died, aged 82.
Mr Hayek died unexpectedly of heart failure at his office in Biel, Switzerland.
The self-styled "Mr Swatch" is credited with saving the Swiss watch-making industry with cost-saving moves in the 1980s after he was asked to help close it down.
Lebanese-born Mr Hayek introduced less expensive products and charged a premium for top-of-the-range watches made in Switzerland to compete with cheaper competitors from Asia.
His son Nick Hayek is the chief executive of Swatch.