Swiss watch brand replaces Bruno Meier with Rolex Italia director.
Rolex SA has announced a change in chief executives with Gian Riccardo Marini, 64, named as the new director general.
As former director of Rolex Italia, Marini replaces Bruno Meier, who has held the chief executive position since December 2008. Meier replaced Patrick Heiniger, who served as Rolex CEO for 16 years. Analysts have suggested that Meier’s tenure was unusually brief.
The company has not provided details or reasons for the change, though Reuters were given some information by a spokeman: "The board has decided to update corporate structures in order to continue the dynamic development of the brand, prepare for the future and cope with a pickup in markets, especially emerging markets."
In December, Rolex appointed a new president and chief executive for USA division, with Stewart Wicht taking the helm, following the death of long-time American head Allen Brill.