Mrs Arlette-Elsa Emch will reach retirement age in February 2013 and therefore discontinue her activities for the Swatch Group. As Mrs Emch has accrued a large amount of annual leave as a result of her long service, she will discontinue her operational activities for Swatch and CK at latest by mid of July 2012.

Arlette-Elsa Emch will, however, remain a member of the Executive Group Management Board until February 2013.

The Swatch Group thanks Arlette-Elsa Emch for her long service with the Group and wishes her all the best for her retirement.