A timed succession plan: How Ulysse Nardin owner's perfect will saved the watch-making brand

Precision is the operative word in the watchmaking industry. Patrik P Hoffmann, CEO of Ulysse Nardin, experienced it with his elevation from Vice-President (sales and marketing worldwide) to his current designation. His promotion was the outcome of owner Rolf Schnyder’s accurate reading of the company’s needs in the years ahead, following his demise.

But Hoffman was reportedly a reluctant captain. He had rejected an earlier move to Le Locle in Switzerland, where the company’s headquarters is based, because

it was too cold for his liking. "It’s difficult to broach the idea of a transition with an owner. The goal was that Schnyder would retire at 80," said Hoffman, during his recent visit to Mumbai to launch the brand’s first standalone store.

Looking back on that period, Hoffman recalls, "Schnyder would say every thing was planned, but with Rolf you didn’t feel that he was organised because everything was in his head. When he suddenly passed away in 2011, I received a call at 4 am in the US that his will was going to be opened. Nobody was expecting it, but he had planned his succession."

Hoffman credited Schnyder for the transition. "It was easy because of the will. He had decided on five people to replace him; all who had worked with him for over 15 years. We knew the culture, the philosophy, so the boat kept on sailing. It was seamless," he said.