The former Rolex CEO Bruno Meier was appointed in 2008, as a successor of Patrick Heiniger, who held this position for 16 years. The reason why the former chief executive held the position for only two years are completely unclear. The company is working well and their estimated sales in 2010 range around 4.4 billion Swiss francs ($5.1 billion). Even the global demand for luxury watches is growing, especially in the emerging eastern markets such as China. The Rolex Company itself is worth at least 15 billion Swiss francs.
"I think there are internal differences of opinion at the company at least partly in terms of degree of openness to the outside world," Kepler Capital Markets analyst Jon Cox said.
"I don't think this will lead to any change in terms of the independence of Rolex given the foundation's control, although no doubt changes will trigger speculation. You are probably looking at a 15 billion Swiss francs price tag at the bare minimum," Mr Cox said.
Whatever is the reason for this change it remains behind the closed doors of The Hans Wilsdorf Foundation, which controls the company.
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