By  on March 19, 2020

PARIS — Swatch Group is temporarily reducing and in some cases halting production, but has not closed factories at this point, chief executive officer Nick Hayek said Thursday.

“It’s really case by case, because the reality of a battery manufacturer like Renata that’s in Baselland is quite different from an operation in Vallée de Joux, for example, so that’s why we really have to tackle every reality differently,” said Hayek, speaking in an online presentation on the results of the Biel, Switzerland-based group. The executive was flanked by chief financial officer Thierry Kenel and chief controlling officer Peter Steiger, who sat at a distance.

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