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The Hour Glass Ltd, one of Asia’s leading specialist luxury watch retailers, has appointed Mr Michael Tay as Co-Group Managing Director, with effect 1 April 2015.
Mr Tay will jointly hold the Group Managing Director position alongside Dr Kenny Chan, who has held his current post since 2004. Both Managing Directors will helm and provide stewardship to one of Asia’s premier luxury retail groups. This move is in accordance with the Group’s overall succession plan.
Mr Tay has developed extensive watch industry experience having headed a range of business units within The Hour Glass from specialty watch manufacturing and wholesale distribution to greenfield retail development, group marketing and merchandising, corporate finance and investor relations. He is a member of the governing Cultural Committee of the Fondation de la Haute Horlogerie and a member of the jury for the Grand Prix d’Horlogerie de Geneve.
Mr Tay serves on the boards of Singapore’s National Heritage Board, the Singapore Tyler Print Institute and Platform, non-profit organisations engaged in the heritage and visual arts sectors. He is also Chairman of Mercy Relief, an international humanitarian development and relief organisation located in Singapore. Mr Tay graduated from Oxford Brookes University, United Kingdom, with a First Class (Honours) in Business and International Management.
In announcing the appointment, Executive Chairman Dr Henry Tay commented, “Mr Michael Tay joined the Group 16 years ago as its Business Re-Engineering Manager and has played a defining role in The Hour Glass’ growth since.”
He further added: “With their broad appreciation of the region’s dynamic luxury retail landscape and their incisive eye for business and operations, both Kenny and Michael have enabled the Group to achieve a record of sustained and profitable growth despite difficult and demanding business environments. We are confident that this combined leadership will further strengthen the Group’s development capabilities and ensure the continuity of our business mission”
The Hour Glass recently celebrated its 35th Anniversary, renewing its commitment to promote the appreciation of horological culture and contemporary craftsmanship around the world.