The family that dominates Swatch Group faces an unusual test on Wednesday when an American investor tries to secure a place on the Swiss watchmaker's board, bidding to shake up its performance after a slide in its fortunes. Steven Wood, founder of U.S. firm GreenWood Investors, wants Swatch to focus more on its luxury brands such as Breguet and Blancpain, but to be elected to the board he must get past the Hayek family, which controls about 44% of Swatch voting rights. GreenWood holds about 0.5% of Swatch shares and Wood is seeking to represent so-called bearer shareholders, which have a majority of the share capital, but not of the voting rights.

The family that dominates Swatch Group faces an unusual test on Wednesday when an American investor tries to secure a place on the Swiss watchmaker's board, bidding to shake up…

L’investitore, che detiene circa lo 0,5% del capitale della società svizzera, intende chiedere una nuova assemblea straordinaria