Manfred Swarovski, founder and CEO of Swarco, has passed away at the age of 77. The company’s executive board confirmed that he died on 13 May.
Swarco says it has lost a mastermind who managed to bring his group of companies to world renown in the field of road safety and intelligent traffic management over nearly half a century.
The company expressed condolences to Swarovski’s wife Elisabeth, sons Alexander, Philipp and Manfred, and to his brothers and sisters.
Swarovski had planned his succession by handing over his responsibilities to executive board members over the past few years. They will run the company operationally in close alignment with the supervisory board, Swarco said.
The company started in 1969 in Austria with a small factory producing reflective glass beads. Today, the international traffic technology organisation employs 3,700 people and generates annual revenue of €675m.