US investor Wood lambastes Swatch, proposes overhaul to company's board, FT reports

Swatch groupAG

29/11/2025 05:18

Nov 29 (Reuters) - U.S. investor Steven Wood accused Swatch Group UHR.S of "worst-in-class governance", proposing changes to the Swiss watchmaker's board and governance reforms, the Financial Times reported on Saturday.

Wood, the founder of GreenWood Investors, which says it holds about 0.5% of Swatch's share capital, has ditched plans to gain a board seat and is pushing the board to adopt a package of reforms, the newspaper said.

"I no longer think of the primary goal as going on the board and having a constructive relationship," Wood told the FT. "These are new moves to force them to evolve their worst-in-class governance."

 (Reporting by Rishabh Jaiswal in Bengaluru)

 ((rishabh.jaiswal@thomsonreuters.com;))