Greenwood Investors LLC
/ Key word(s): AGMEGM
ISS Recommends The Swatch Group AG Shareholders Vote FOR GreenWood's Director Nominee and Governance Proposals for the Company's 2026 Annual Meeting of Shareholders ISS continued by recommending the need for governance change at Swatch: "It is difficult to separate the company's issues with performance from its governance deficiencies. The sub-optimal governance setup is exemplified by the significant influence of the founding family and the lack of independence at the board level. Decision-making is concentrated within a small group of founding family members, and it appears that the remaining directors, who generally have limited industry experience and long tenures, have not been willing or able to effectively oversee management." ISS underscored its conclusion that change is warranted as Swatch, stating that: "UHR has lost its luster as a leading player in the luxury watch segment. The company went from accounting for more than 40 percent of Switzerland's watch exports a decade ago, to less than 25 percent in the most recent reporting period. Revenue has declined to a decade-low level (excl. a 2020 dip due to the pandemic), operating margin is also at a multi-year low and the worst among peers, and TSR has deteriorated." Steven Wood, Founder and CIO of GreenWood Investors, stated, "We are extremely grateful to have received strong votes of confidence from ISS today, which has long pointed out governance deficiencies at Swatch. Our proposals and candidate represent necessary first steps to rectifying the governance shortcomings and finally addressing the stagnation that has occurred at the Company in recent years. However, for this to become a giant leap, we need shareholders to ensure they vote their shares. They will be well guided by following ISS's advice that 'A vote FOR the dissident director represents a constructive step toward improving oversight and rebuilding investor trust.'" Mr. Raul Galamba, Chairman of CTT Correios de Portugal, noted Steven's influential role in the CTT boardroom stating, "Steven has been central to CTT's industrial transformation from a legacy operator into a modern logistics leader. His hands-on role in our operational turnaround proves he brings deep industrial insight and a collaborative, results-driven mindset to the board." GreenWood urges Swatch shareholders to follow the ISS recommendations and vote "FOR" Steven Wood, which is 5.1.2 and 5.2.i listed under Proposal 5. In addition, GreenWood asks Swatch shareholders to vote "FOR" all of GreenWood's shareholder proposals 9.1-9.6, listed under Proposal 9. More GreenWood materials can be found at: https://www.gwinvestors.com/swatchs-2026-agm-correcting-the-invitation/ About GreenWood Investors LLC GreenWood Investors is an investment manager founded in 2010 by Steven Wood to engage and invest with great managers building under-appreciated companies. The firm partners with management teams during transformational moments in their history to help them accelerate their ability to drive long-term, sustainable value. The firm employs a concentrated, value-oriented global equity investment approach and its strategy is to perform deep diligence and develop relationships with key industry leaders who help to improve outcomes for all stakeholders. Contacts GreenWood Investors Josh Pesses info@gwinvestors.com Georgeson Matthias Nau / Christian Papp / Sara Abbasi matthias.nau@georgeson.com / Christian.Papp@georgeson.com / sara.abbasi@georgeson.com Additional features: File: Press release (PDF) End of Media Release |
2315714 27.04.2026 CET/CEST
