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Pandora Chairman Quits Amid Reshuffle

Peder Tuborgh exits a month after appointment of new CEO.
Mar 14, 2019 5:35 AM   By Rapaport News
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RAPAPORT... Pandora chairman Peder Tuborgh is set to leave the Danish jewelry maker. This comes just one month after the company appointed veteran consumer-brand executive Alexander Lacik as its new CEO.

These significant leadership changes form part of the company’s strategic initiative to combat disappointing sales figures, a sluggish retail market, and problems with its new jewelry lines.

In 2018, Pandora’s total revenue stagnated at DKK 22.81 billion ($3.49 billion), with profit falling 13% to DKK 5.05 billion ($772.5 million).

Tuborgh will ask the company’s nomination committee to begin preparations to appoint a new chairman, the jeweler said.

Image: Peder Tuborgh. (Niels Åge Skovbo)
Tags: Alexander Lacik, Denmark, Jewelry, Pandora, Peder Tuborgh, Rapaport News, retail
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