Investor Calls for Governance Reform at Swatch Group

Steven Wood, founder of GreenWood Investors, criticized Swatch Group's governance, calling it 'worst-in-class'. Holding 0.5% stake in Swatch, he pushed for board and governance reforms, abandoning his bid for a board seat. His aim is to drive governance changes at the Swiss watchmaker.

Steven Wood, a U.S. investor and founder of GreenWood Investors, has publicly criticized Swatch Group for its 'worst-in-class governance', as reported by the Financial Times.

GreenWood Investors, which holds a 0.5% share in Swatch, has spurred Wood to advocate for substantial changes in the company's governance structure.

Originally seeking a board seat, Wood has withdrawn his bid, now focusing on pushing the board to adopt a comprehensive reform package to enhance the company's governance.

(With inputs from agencies.)