Jiří Koleňák: Welcome to another episode of the Úspěšní (Successful) podcast, produced in collaboration with the Czech Management Association. In this special series, we meet executives whose decisions, leadership, and results move Czech business forward. Joining me as co-host is Olga Girslová, President of the Czech Management Association. Welcome, Olga.
Olga Girslová: Thank you, Jiří, for the warm welcome. I have the honor of introducing our guest today, Renata Červenák-Nývltová, CEO of Elton Hodinářská, the company behind the iconic Prim watch brand. Renata took over the company during a challenging period and, through hard work and diligence, turned losses into profit. She significantly increased manufacturing capacity while honoring honest Czech craftsmanship, which we'll discuss today.
Renata Červenák-Nývltová: Good day, thank you very much for having me.
Jiří Koleňák: Before we dive into management topics, I always start by asking what brought my guests the greatest joy in recent days. What was it for you, Renata?
Renata Červenák-Nývltová: Definitely the launch of our new Prim Art watch edition about ten days ago, inspired by the butterfly motif. Each year we feature a creature—last year was a dove, this year it's a butterfly. It's a limited special edition featuring a hand-crafted dial inlaid with mother-of-pearl ceramic, which we take great pride in. It comes in stainless steel, bicolor (stainless steel with a gold bezel and crown), and full gold. It's primarily a women's piece and brought me immense joy.
Jiří Koleňák: We will certainly check it out.
Olga Girslová: That sounds lovely.
Jiří Koleňák: You joined Elton Hodinářská when the company faced significant challenges. What convinced you to take on such a challenge?
Renata Červenák-Nývltová: I actually asked for the challenge myself. I am a native of Nové Město nad Metují, where the factory is located. Growing up there, everyone worked in either Stavostroj or Elton—my family worked at Stavostroj. My first watch was a Prim, and I've always loved timepieces. In 2018, I joined Czechoslovak Group (CSG) as Head of Procurement for the entire holding. Since CSG owned an entity in Nové Město, I kept my office there to avoid daily commuting to Přelouč or Prague. I observed Elton's challenges and potential up close. When the group searched for a new CEO, I felt a duty as a local native to step up and help elevate the company. I approached owner Michal Strnad and offered to take the helm. Although my background was in procurement management—leading teams of nearly 50 people at Škoda Transportation—running a company of 65 to 70 employees felt achievable with the right team. Mr. Strnad agreed to let me manage Elton three-quarters time initially while maintaining group procurement, but after three months of positive financial turnaround, I transitioned fully to CEO of Elton.
Jiří Koleňák: You previously worked at Česká zbrojovka, Škoda Transportation, and CSG. What specific qualities helped prepare you for this executive role?
Renata Červenák-Nývltová: My foundation was built right after university at Stavostroj in Nové Město nad Metují, where I advanced quickly to Head of Supply. Financial group owners brought in Václav Novák, a renowned crisis manager, as CEO. I applied for the department head role despite having graduated only six months prior. Mr. Novák hired me and mentored me closely. Years later, I asked why he selected an inexperienced young woman. He gave three reasons: first, as a woman, I worked harder to prove I could match male executives; second, being a blank slate, he could mold my executive habits; third, as a competitive athlete, I possessed drive and wouldn't surrender under pressure. That experience at Stavostroj shaped me fundamentally, and every subsequent role further honed my leadership.
Jiří Koleňák: Do you recall a specific moment when you realized you were a true leader?
Renata Červenák-Nývltová: I'm not sure I've ever paused to think of myself that way! I stepped onto the managerial track at 24, nearly 30 years ago. Leadership approaches three decades ago were completely different from today. You learn continuously, observing what works, what doesn't, and defining your own style. It's an ongoing evolution.
Jiří Koleňák: True leaders also know what they don't want—a recurring theme in our series. Olga, over to you.
Olga Girslová: Building on your athletic background, how did competing in sports during your youth influence your executive management style?
Renata Červenák-Nývltová: Tremendously. Athletic competition teaches discipline, goal-setting, hard work, and pushing through physical pain. It instills humility in victory and resilience in defeat. You learn to prepare methodically for competition and push past limits. That mindset maps directly onto executive leadership.
Olga Girslová: When you needed a new Production Director—a key role for the watchmaking business—how did you approach that process and what did it teach you?
Renata Červenák-Nývltová: We didn't need to hire externally—he was a long-time senior employee who had been at Elton for over 30 years, seeing the company scale from 2,000 workers down through post-90s survival struggles. Having seen many CEOs come and go, he was initially skeptical of a new director. But we clicked quickly. He brought deep watchmaking craftsmanship and heritage knowledge while respecting modern operational planning methods. He mentored successors before retiring.
Olga Girslová: How do you motivate employees and communicate performance metrics across the company?
Renata Červenák-Nývltová: While fair compensation and achievable KPIs are baseline motivators, transparent visual reporting and direct communication matter most. We hold regular company-wide meetings to share financial results, successes, and challenges. I walk the production floor daily, talking with watchmakers and assembly technicians directly. Employees must feel that the CEO is an accessible, integrated part of their team.
Jiří Koleňák: You implemented major operational changes upon taking over as CEO. Which ones stood out?
Renata Červenák-Nývltová: We aligned production with sales demand. Sales had demand, but production suffered from poor planning—resulting in severe capacity spikes and idle drop-offs. We structured systematic production scheduling, balancing custom orders with building warehouse inventory. Second, we reactivated marketing from zero to 100, recognizing that luxury mechanical watches require active brand stewardship.
Jiří Koleňák: You also established an internal apprenticeship system for watchmakers. Was there a shortage of skilled watchmakers?
Renata Červenák-Nývltová: Under the former regime, Elton had 2,500 employees and its own vocational school in town. After 1990, that system collapsed. Today, only one vocational school in Jihlava trains three to five watchmakers per year nationwide, making external recruitment impossible. We train watchmakers in-house. Our assembly floor average age is around 40. Before hiring, we invite candidates to test their manual dexterity with tweezers and micro-screws under our master watchmaker's supervision. If they possess patience, precision, and hand skill, we hire and train them internally—starting from basic sub-assemblies up to complex mechanical movements and balance wheel regulation.
Jiří Koleňák: You increased manufacturing capacity by 32% without adding headcount. What was the secret?
Renata Červenák-Nývltová: Optimized production planning. By structuring workflow queues properly, workers became significantly more efficient without added stress.
Jiří Koleňák: What role does analytics play in your leadership?
Renata Červenák-Nývltová: If you don't measure it, you can't manage it. We implemented operational controlling and Power BI dashboards to track daily managerial metrics. Numbers are essential for decision-making across any business size.
Jiří Koleňák: Where do you draw managerial and personal inspiration?
Renata Červenák-Nývltová: Peer CEO executive networks. Executive leadership can be lonely at the top. Having a trusted peer circle of CEOs allows you to discuss operational headaches, strategy, and challenges candidly without showing vulnerability inside your own company.
Olga Girslová: What led to your nomination for the Manager of the Year awards?
Renata Červenák-Nývltová: Our Marketing Director initiated the nomination with encouragement from CSG's HR Director.
Olga Girslová: What did going through the awards process give you?
Renata Červenák-Nývltová: It forced me to articulate my achievements in writing on a blank sheet of paper, prompting deep self-reflection. Presenting before the evaluation committee was a vulnerable experience. I prefer praising others rather than self-aggrandizing, so stepping out of my comfort zone was a great personal growth experience.
Olga Girslová: You also participated in our Manager Job-Shadowing project with university students from Newton University. What was that experience like?
Renata Červenák-Nývltová: It was fantastic. An engaged student spent a full day with me across internal strategic meetings and external negotiations. She asked insightful questions afterward. If I had had that opportunity as a student, I would have jumped at it. It gives students authentic, behind-the-scenes exposure to corporate execution and culture.
Olga Girslová: How do you view the role of the Czech Management Association?
Renata Červenák-Nývltová: ČMA serves four vital pillars: CEO networking, executive training, facility site visits, and connecting academia with business, including recruitment support.
Jiří Koleňák: Managing a legacy brand that spans generations is a profound responsibility. How do you feel leading Prim?
Renata Červenák-Nývltová: It is an immense commitment. Elton has been crafting watches since 1949. My responsibility is to ensure this iconic Czech brand thrives for another 70+ years, crafting beautiful timepieces and honoring Czech watchmaking heritage.
Jiří Koleňák: Renata, thank you for an inspiring interview.
Renata Červenák-Nývltová: Thank you very much for having me.
Jiří Koleňák: Thank you to our audience, and see you next time with more inspiring guests!
