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Chai Schnyder is the widow of Rolf Schnyder (both pictured left). She holds a Master of Science in Manufacturing Engineering from Queen's University Belfast, U.K.
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The actions were taken during a special meeting of the shareholders, board of directors and management of the watch brand, based in Le Locle, Switzerland.
“Thanks to the innovative energy of the company, and in harmony with the intentions of the visionary Rolf W. Schnyder and his tireless pioneering spirit, we stand by the strategy of independence,” Hoffmann said in a statement.
Schnyder acquired the family firm of Ulysse Nardin in 1983 and since that time held the role of president and CEO. Under his leadership, Ulysse Nardin became a prominent brand in the mechanical watchmaking sector, with innovations such as the first astronomical wrist watches.