Rolex Appoints New Chief Executive

Gian Riccardo Marini, 64, current director of Rolex Italia,
has been named director general of Rolex SA, its chief executive position, the company confirmed to JCK.

Marini replaces Bruno Meier, who was appointed
to the position
in December 2008. Analysts noted that Meier’s tenure was unusually brief. Meier replaced Patrick Heiniger, who
served as CEO for 16 years.

The company did not give a reason for the change. However a spokeswoman told Reuters: “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.”

This is not the only management change at Rolex of late. In December,
Stewart Wicht was
appointed president and CEO
of Rolex Watch USA, the company divison that services the United States, following the death
of long-time U.S. division head Allen Brill
.

The company is privately held.

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