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In surprise move, Rolex appoints new CEO


Zurich--Rolex has appointed a new chief executive officer to replace Bruno Meier, who had held for the job for only two years, according to a report from Reuters.

Riccardo Marini, who was the head of Rolex Italia, will now step up to take the helm of Rolex SA. One analyst told Reuters that the CEO shake-up was a surprise and that not much is known about the new head of Rolex.

A Rolex spokeswoman did not give Reuters any reason as to why Meier, who was appointed CEO of Rolex in 2008 to succeed Patrick Heiniger after a16-year tenure, left the company. She said only that Rolex’s board opted to “update corporate structures” in order to continue developing the brand, particularly in emerging markets.

This marks the second major management change at Rolex in recent months. In December, Rolex U.S.A. appointed Stewart Wicht as its new president and CEO in the wake of the death of Allen Brill, who died in November following a brief battle with lung cancer.