Group: Management change at ETA SA
August 10, 2004 - Due to serious health problems and at the insistence
of his doctors, Mr. Anton Bally (58) resigned from his duties as member
of the Executive Group Management Board of The Swatch Group Ltd. and as
President of ETA SA – responsibilities accomplished with competence, care
and rare expertise for very many years. With sincere regret and in the
interest of Mr. Bally's health, the Executive Group Management Board has
acceded to his request.
However, Mr. Bally will continue to make his extensive technical and economic
knowledge available to the Swatch Group, and remain member of the Board
of Directors of ETA SA, as well as of Nivarox-FAR, Universo and Rubattel
& Weyermann, companies for which he was responsible until now within the
Executive Group Management Board.
Mr. Thomas Meier (45) has been appointed new President of ETA SA with
immediate effect. After business administration studies in Munich (Germany),
Mr. Meier completed his education as watchmaker in Pforzheim (Germany)
and as graduate engineer in microelectronics and micromechanics in Karlsruhe
(Germany). During his career he has been active in both the mechanical
and electronic watch sectors, and is familiar with development as well
as production. Mr. Meier has been with the Swatch Group – with a one-year
interruption – since 1994. After assignments with Mido and Swatch (Access)
under the direction of Mr. G. N. Hayek, he spent the last two and a half
years as production manager for the “Manufacture Breguet”, under the direction
of Mr. N. G. Hayek.
A steering committee consisting of Messrs. G. N. Hayek (Chairman), M.
Darwish and P. Steiger (both members of the Extended Group Management
Board) will be set up to support the management of ETA SA. The steering
committee can, if necessary, appoint a panel of experts to assist it in
Béatrice Howald, Head of PR/Press, Swatch Group
+41 32 343 68 33, Fax +41 32 343 69 22