The decision was announced to Pandora’s retailers at 4pm today.
Adcock has been in the role for eight years prior to her decision to step back from the day-to-day operations, with Pandora CEO Bjorn Gulden describing her as “a true custodian of the brand”.
“She has played a pivotal role in the successful development of Pandora in Australia and New Zealand and has contributed significantly to making Pandora one of the world’s largest jewellery brands,” Gulden said.
“I fully respect Karin’s decision to stand back from daily operations, and I am very pleased that we will still be able to draw from her extensive experience and insight in the Australian retail jewellery environment. I look forward to liaising with Karin as a trusted advisor both for the business in Australia and for the Pandora brand in general,” Gulden added.
Adcock and her husband, Brook, started the jewellery business in 2004 after flying to Denmark to pitch her business plan to secure distribution in Australia.
Adcock said the time was right for her to step back from the role and concentrate on a better work life balance. She will however continue in the roles as chairman of the Pandora Australia Advisory Board and Chairman of the Pandora Franchise Advisory Council for the Australian and New Zealand businesses.
“After eight years leading our team to growing Pandora to the business we have today, I have decided that it’s time for a change. I need to take a step back and restore my work life balance and reassess my future direction. I have great confidence in handing over to David, and I have no doubt he will be a great leader of our brand in Australia.”
Adcock’s leadership style has earned her the reputation of being one of Australia’s best executives, having been rewarded most recently as the 2011 Employer of Choice (<1,000 employees) in the Australian HR Awards.
Allen brings to the role a background in the Australian retail industry, including having worked for Pretty Girl Fashion Group, Woolworths Limited and the Colorado Group. Gulden said he was looking forward to working with Allen in the role.
“David Allen brings profound retail experience and energetic leadership to the Global Management team,” Gulden said. “I am confident David has the right set of both personal and professional skills to successfully bring Pandora to the next level in this region.”
According the company statement, Pandora is sold in more than 65 countries through more than 10,000 points of sale, including 700 concept stores, and employs more than 5,300 people worldwide.