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Pandora Hires Industry Outsider as CEO

Feb 14, 2019 10:43 AM   By Rapaport News
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RAPAPORT... Pandora has named veteran consumer-brand executive Alexander Lacik as its CEO, as it seeks to transform the company following weak sales.

“Alexander is a brilliant marketer and brand architect, and has throughout his career shown himself as a great leader and a highly effective executor,” Pandora chairman Peder Tuborgh said. “His skills and experience will be key to revitalizing the Pandora brand.”

Lacik currently serves as CEO of Britax, a global manufacturer of child-safety products, and was previously North America president at UK-based consumer-goods group Reckitt Benckiser. He has also held positions in sales and marketing at Procter & Gamble.

His appointment comes after Anders Colding Friis resigned as the jeweler’s CEO in August amid continued sluggish consumer demand for its flagship charms. Chief operating officer Jeremy Schwartz and chief financial officer Anders Boyer managed the company in the interim, and will continue in that role until Lacik joins “as soon as possible,” Pandora said Thursday.

Pandora is currently overhauling its marketing and customer experience, after 2018 revenue flatlined at DKK 22.81 billion ($3.49 billion) and profit fell 13% to DKK 5.05 billion ($772.5 million). Last week, company executives noted that it had not been giving customers enough incentives to acquire multiple bracelets and charms — the “backbone” of its offering.

Image: Alexander Lacik. (Pandora)
Tags: Alexander Lacik, Anders Boyer, Anders Colding Friis, Britax, Jeremy Schwartz, Pandora, Peder Tuborgh, Rapaport News
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