Rolex Names New CEO

Luxury watch maker Rolex (Geneva) has brought Jean-Frédéric Dufour on board as its new ceo. Dufour has been leading the Zenith watch line at LVMH Moët Hennessy Louis Vuitton (Paris) since 2009, according to Women's Wear Daily, and is taking the reins from Gian Riccardo Marini.

Dufour's experience managing high-end watch brands includes stints with Blancpain, Chopard, Swatch Group and Ulysse Nardin.

Rolex has a brand value of $7.4 billion, according to Forbes, and is No. 68 on the magazine's list of the world's most valuable brands. This marks the company's third leadership change since 2008.