Swatch Faces Board Challenge From Investor Steven Wood
Proxy advisers ISS and Glass Lewis support Steven Wood for a Swatch board seat. The move challenges the Hayek family grip after years of weak financial results.
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Swatch faces a board challenge from investor Steven Wood, whose GreenWood fund owns 0.5% of the Swiss watchmaker. Proxy advisers ISS and Glass Lewis backed Wood for a board seat over the Hayek family's nominee. The vote tests the family's 40% voting control after net profit fell 89% last year.
