IN BRIEF (Page 17)

Rolex chief quits

Rolex Group, the Swiss watchmaker, said Chief Executive Officer Patrick Heiniger resigned for "personal" reasons after 16 years in the post.

Heiniger will leave Rolex at the end of the year, the Geneva-based company said. Separately, Rolex denied a media report that the company may have lost 1 billion Swiss francs ($900 million) invested with Bernard Madoff, the US money manager charged with fraud.