Marcello Bottoli, who has been a Pandora board member since 2010, interim CEO and chairman, expressed his reluctance to leave his position with the international jewellery company.
“I have now started a new entrepreneurial project which will negatively impact my ability to dedicate the appropriate amount of time to the company,” Bottoli explained. “Therefore, after leading the search to find my successor I will, regretfully, stand down as chairman of Pandora.”
Pandora deputy chairman Christian Frigast said that the board members “sincerely regret” Bottoli’s decision and wished him well for his entrepreneurial venture.
“Marcello has been a great colleague and board member. He has stepped up for the company on many occasions, not least as interim CEO, when he led the team to build the platform for the recovery of the business that we are benefiting from today,” Frigast said.
Bottoli briefly served as interim CEO in 2011, and later became deputy chairman under Allan Leighton. He was named chairman after Leighton became company CEO in July 2013.
Bottoli, Frigast and the Pandora Nominations Committee will now initiate and lead the search for a new chairman.
Founded in 1982 and headquartered in Denmark, Pandora designs hand-finished jewellery that is sold in more than 70 countries.
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