Short on the heels of the Swatch Group's "earth shattering" announcement via a press article that it would not be returning for Baselworld's 2019 edition, the organizer of the watch industry's largest fair has revealed that its CEO has resigned. No doubt a result of stinging criticism from the Swatch Group's chief executive Nick Hayek on how he had managed next year's calendar without consultation with major exhibitors, René Kamm's departure was not a surprising turn of events

His employers, the publicly-listed MCH Group said "the time has come for a change" after his nearly 20 years at the company.

"The feeling is that the Basel fair has always acted very arrogantly,” Mr Hayek was quoted as telling the Financial Times. "Now the Swatch Group has had the courage to say, hey, this is nonsense."

Hayek also complained, "(Kamm) is always disappearing, especially in difficult moments."

Baselworld cairman Ulrich Vischer will assume operational duties until a successor to Mr Kamm can be found.