U.S. investor Steven Wood accused Swatch Group of "worst-in-class governance", proposing changes to the Swiss watchmaker's board and governance reforms, the Financial Times reported on Saturday.

Wood, the founder of GreenWood Investors, which says it holds about 0.5% of Swatch's share capital, has ditched plans to gain a board seat and is pushing the board to adopt a package of reforms, the newspaper said.

Swatch and GreenWood did not immediately respond to Reuters requests for comment.

"I no longer think of the primary goal as going on the board and having a constructive relationship," Wood told the FT. "These are new moves to force them to evolve their worst-in-class governance."

GreenWood Investors made six proposals on Monday to amend Swatch's corporate governance, including allo

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