Sunday, May 12, 2013

A Publicly Traded Company, or a Family Dynasty?

Okay - no hidden agenda.  I LOVE many things about the SWATCH Group.  OMEGA continues to capture my imagination - my BaselWorld experience will be shared later today.  Tissot's Navigator re-release is fantastic, and my ONLY watch purchase this year was -

this little bijou from SWATCH.  And when it becomes available, I will be right there to check out the Sistem51.

But with the most recent leadership announcement informing the world that once again, the latest CEO change within the SWATCH Group has confirmed - brace yourself - another Hayek at the helm.

Now here's the thing, regardless of whether or not SWATCH is a publicly traded company it is starting to take on the look and feel of a somewhat nepotistic family firm.  Think I'm being overly critical?

Blancpain - Marc Hayek President and CEO

Breguet - Marc Hayek  President and CEO 

Harry Winston - Nayla Hayek, in addition to her other titles and responsibilities. 

Jaquet Droz - Marc Hayek

Not to mention - Nick Hayek President of the Executive Group Management Board and member of the Board of Directors

OMEGA is a notably positive exception with Stephen Urquhart at the helm.

Now my point here is not to throw stones at the Hayeks.  By all accounts they are doing a great job.  No my point here is about sustainability, and longevity.  

When we are talking about an enterprise as large and as powerful as the SWATCH Group, the question is where will the new talent come from to run the various companies that make up the group?  I am a Hayek fan, make no mistake.  And while I don't think anyone will start referring to any of them as "Dear Leader", I do think that it is time for the SWATCH Group to start thinking about developing some leadership talent who do not have a last name that starts with "H" - unless maybe it's 
Henderson ; )

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