Elections to the Board of Directors at the next Ordinary General Meeting
Swatch Group proposes to the next Ordinary General Meeting of Shareholders on 8 May 2024 the re-election of all the members of its Board of Directors and the election of Marc A. Hayek as a new member of the Board. Marc A. Hayek has been a member of the Management Board since 2005 and is CEO of Blancpain. Marc A. Hayek is also President of the Breguet, Blancpain, Glashütte Original and Jaquet Droz brands and a member of the Board of Directors of Belenos Clean Power. The Swatch Group Board of Directors unanimously supports this nomination. With Marc A. Hayek, the Swatch Group Board of Directors will have seven members.
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Key Figures 2024
Net sales of CHF 6 735 million, -12.2% against the previous year at constant exchange rates(-14.6% at current rates). Negative currency impact of CHF 192 million. Operating margin of 10.6% in the Watches & Jewelry segment (without Production). Improvement to 12.2% for the fourth quarter, or 14.1% for the month of December. …
Change in the Executive Management Board
Mr. François Thiébaud has decided to take a well-deserved retirement after 29 years with the Group. Mr. François Thiébaud has been a member of the Swatch Group Executive Group Management Board since 2006 and was President and CEO of the Tissot brand for 25 years, from 1996 to 2020. Swatch Group thanks him warmly for his remarkable commitment,…
Half-Year Report 2024
Net sales of CHF 3 445 million, -14.3% against the previous year at current exchange rates (-10.7% at constant rates). Negative currency impact of CHF -145 million. Operating profit of CHF 204 million (previous year: CHF 686 million). Operating margin of 5.9% (previous year: 17.1%). Net income of CHF 147 million (previous year:…