Published by Global Banking & Finance Review®
Posted on May 5, 2025
1 min readLast updated: January 24, 2026
Add as preferred source on GoogleProxy advisors ISS and Glass Lewis recommend Swatch shareholders vote against the board's re-election, citing independence concerns.
ZURICH (Reuters) - Proxy advisers Institutional Shareholder Services and Glass Lewis have recommended Swatch Group shareholders vote against the re-election of the watchmaker's supervisory board, citing concerns about their independence.
ISS said investors should vote against chair Nayla Hayek, who has been head of Swatch's board since 2010, and her brother Nick Hayek, who is CEO of the company whose brands include Omega and Longines.
The advisor also said shareholders should not re-elect Nayla's son Marc Hayek, and the four other executives including Lindt & Spruengli chairman Ernst Tanner.
(Reporting by John Revill; Editing by Kirsten Donovan)
The main topic is the recommendation by proxy advisors for Swatch shareholders to reject the board's re-election due to independence concerns.
Key figures include Nayla Hayek, Nick Hayek, and Marc Hayek, along with other executives.
The recommendations are provided by proxy advisors Institutional Shareholder Services and Glass Lewis.
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