Swiss Billionaire Esther Grether Dies at 89

Esther Grether, one of Switzerland's most influential business leaders and art collectors, has died at the age of 89. The Basel-based entrepreneur, who held a significant stake in the Swatch Group and led the Doetsch Grether Group for decades, passed away peacefully according to a family announcement on Friday. Known for her pioneering role as a female business leader in Switzerland, Grether leaves behind a legacy that spans both the corporate world and the arts.

Grether's remarkable journey began as a secretary at Doetsch Grether, where she would later marry company leader Hans Grether. Following her husband's untimely death in 1975, she took the helm of the family business, becoming one of the few female managing directors in Swiss business at that time. Her leadership extended to the Swatch Group, where she served on the board of directors from 1986 to 2014, holding a 3.76% stake in the world's leading watchmaker. Under her guidance, Doetsch Grether continued to thrive, with Forbes estimating her personal wealth at CHF 1.8 billion.

The Doetsch Grether Group, founded as a pharmacy in Basel in 1899, evolved into a significant player in Switzerland's health and wellbeing sector under Grether's leadership. The company is known for iconic brands including Grether's pastilles, Neo Angin, and Ceylor condoms. The group's international expansion began with Fenjal bath cream in 1963, marking a significant milestone in its development. Despite gradually stepping back from operations in 2014, Grether ensured the company remained in family hands, maintaining its independent Swiss character.

Beyond her business acumen, Grether was renowned for assembling one of the most significant private art collections of the 20th century. Her collection, comprising approximately 600 works, includes masterpieces by Pablo Picasso, Paul Cézanne, Salvador Dali, and a notable triptych by Francis Bacon. The Basel Kunstmuseum has hosted several exhibitions of her collection, most recently in 2019, highlighting her role not just as a collector but as a crucial figure in Switzerland's cultural landscape.

A mother of two, Grether's final years were spent in relative seclusion at her Basel residence. Her life story embodies the transformation of post-war Swiss business, particularly in breaking gender barriers in corporate leadership. She leaves behind not only a thriving business empire but also a lasting impact on Switzerland's business culture and art world. Her success in maintaining family ownership of the Doetsch Grether Group while expanding its international presence serves as a model for Swiss family-owned businesses.