Zenith CEO goes against the grain for greater gain

Zurich

A DUSTY attic at the Zenith watch factory in Switzerland bears witness to the company's near-death experience and rebirth. Four decades ago, a gutsy foreman hid the dies and punches used to shape the myriad tiny parts that make up a mechanical timepiece, defying orders from the US owners to junk them.

The move saved the company when the Swiss industry, after nearly ruining itself with a wholesale embrace of quartz technology, reverted to mechanical movements a few years later for its high-end pieces. Zenith was able to tap its mothballed tools as watchmakers realised that survival depended on updating their heritage of craftsmanship, not jettisoning it entirely.

Now a new Zenith boss, chief executive officer Julien Tornare, is leading the latest attempt to revive the watchmaker as the industry recovers from the biggest slump since the quartz crisis. He's bucking some of the industry's conventional wisdom, this time with the blessing of the brand's current owner, French …