Nicolas Hayek, chairman and former chief executive of the giant Swiss watch-manufacturing firm Swatch, has died. He was 82.

As chairman of the Swatch group, Hayek cut a high profile in the world of Swiss watch-making and was one of the most well known Swiss business leaders.

In the 1980s, he transformed two Swiss watchmakers struggling to cope with Japanese competition into what would become Swatch, owning brands such as Breguet, Blancpain, Omega, Longines in addition to its eponymous Swatch line.

The “Milestone 1941” Collector’s Piece is the ninth release in Omega’s Museum Collection.

Each year, the Omega Museum Collection selects one classic timepiece – it has to be more than fifty years.

Once selected, it is re-issued by blending its design excellence with Omega’s tradition of innovative contemporary watchmaking.

Omega is kicking off a worldwide advertising campaign in celebration of the tenth anniversary of its revolutionary Co-Axial escapement.

The advertisements feature photographs of Omega’s brand ambassadors sporting loupes, the magnifying glasses favoured by watchmakers.

Originally developed in collaboration with Jacques Cousteau in the 70s, Omega is re-releasing the Ploprof Diver.

The 2009 Ploprof Diver will feature a Co-axial Caliber 8500 movement, push-button lock bezel, and a water resistance of up to 1200 meters, twice the depth rating of the 1960s version.

It also comes on the choice of three new straps, the Shark , or a black or orange rubber strap (pictured above) that is adjustable to fit over diving suits.