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Pandora’s management merry-go-round continues

Following several other high-profile exits, Pandora International’s chief operating officer (COO) Jeremy Schwartz has tendered his resignation, ahead of the imminent commencement of new president and CEO Alexander Lacik.

Schwartz had been acting as ‘co-CEO’ of the company alongside chief financial officer Anders Boyer since September 2018, after CEO Anders Colding Friis quit the company.

Some had speculated Schwartz – who was previously CEO of The Body Shop – could take on the top job full-time, before Lacik was named to the position in mid-February.

Peder Tuborgh
Peder Tuborgh
“I have sympathy for Jeremy’s decision considering the overlap of competencies between him and Alexander Lacik”
Peder Tuborgh, Chairman of the Board of Directors, Pandora

Lacik – a Swedish executive who has been CEO of Britax since 2017 and has held senior positions with Procter & Gamble and Reckitt Benckiser – will take the reins from 23 April.

It is not known whether Schwartz’s role will be filled or made redundant.

Peder Tuborgh, chairman of Pandora’s board of directors, said in a statement, “I have sympathy for Jeremy’s decision considering the overlap of competencies between him and Alexander Lacik. I would like to thank Jeremy for his significant contributions to Pandora… He is leaving a clear roadmap to execute on.”

Eyes on China

In order to stymie its sales decline, Pandora International is focused on increasing sales in China by releasing its first nation-specific designs.

Kenneth Madsen, managing director Pandora Asia-Pacific, said, “The Chinese love global brands, but they appreciate the local relevance and that a brand shows a commitment to China through specific designs.”

The collection features designs such as the peach blossom flower, which is a symbol of love and fortune in Chinese culture.

The move comes after the company dropped retail prices by 15 per cent in its Chinese stores and took control of its Taiwan distribution channels last year.

In addition to the new designs, Pandora Asia-Pacific will also roll out in-store marketing, through online shopping platform T-Mall, and on social app WeChat.

 

Read more:
New chairman on the way for Pandora
New CEO for Pandora’s international operations

 
















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Saturday, 25 May, 2019 06:03am
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