By and and  on June 28, 2010

PARIS — Nicolas Hayek, the charismatic co-founder of Swatch Group who is credited with saving the Swiss watch industry in the Eighties, died of heart failure on Monday at the age of 82.

The billionaire businessman, known as Mr. Swatch, was chairman of the world’s largest watchmaker. Hayek was working at the company’s headquarters in Biel, Switzerland, when he was unexpectedly taken ill, Swatch Group said.

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