Nick Hayek, chief executive officer of Swatch AG, reacts during the company's annual results news conference in Grenchen, Switzerland, on Wednesday, March 6, 2013. Swatch Group AG, the biggest maker of Swiss timepieces, fell as much as 3.1 percent in Zurich trading after Hayek sought to downplay expectations over industry growth prospects. Photographer: Gianluca Colla/Bloomberg via Getty Images