Swatch Group shareholders have rejected US activist investor Steven Wood's bid for a board seat, marking the second time Wood's attempt to gain influence at the Swiss watchmaker has been defeated. The vote preserves the Hayek family's control over the company, which has faced increasing pressure from investors seeking greater corporate transparency in an evolving luxury goods market.

The family's continued dominance at Swatch comes as activist campaigns gain momentum globally, with shareholders increasingly challenging established leadership structures at major corporations. Wood's previous attempt also failed to persuade shareholders to support his nomination, indicating the family's entrenched position within the company and their ability to maintain influence despite external pressures.

The decision leaves Swatch's governance structure unchanged, with the Hayek family maintaining its influence over strategy and operations for the iconic Swiss brand. Wood's inability to secure a board seat suggests investors prioritize stability over the potential changes an activist might bring to the 167-year-old Swiss watchmaker, which continues to compete in a fiercely competitive luxury timepiece market.