Swatch has again opposed GreenWood Investors’ bid for a board seat ahead of its annual general meeting on May 12, urging shareholders to vote against candidate and founder Steven Wood. The Swiss watchmaker said Wood was “not suitable” to represent shareholder interests, lacking connections and experience in the Swiss industry. Wood failed to secure a seat last May — 79.2% of shareholders voted against him — due to opposition from the Hayek family, which controls around 45% of voting rights. GreenWood has since pressed for changes including a greater luxury focus. Swatch has proposed Andreas Rickenbacher for the bearer shareholder seat.

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