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.



Anton Bally

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 its decisions.



Thomas Klaus Georg Meier


Source: Swatch Group Press Release

www.swatchgroup.com
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