Pandora Appoints New Chairman

RAPAPORT... Pandora has elected Peter Ruzicka to succeed Peder Tuborghas chairman of the board, as part of its efforts to reinvigorate interest inits brand.Ruzicka's appointment follows the recruitment earlier this year of Alexander Lacik as CEO, along with other executive changes, as the company seeks to cut costs and improve its profit via its Programme Now strategy. Pandora announced in March that Tuborgh would step down as the Danish jeweler recorded disappointing sales and experienced problems with its new jewelry lines. "We are progressing quickly with Programme Now to reenergize our brand and restore growth," Tuborgh said. "Now, the time is right for me and for Pandora to bring in a new chair to realize the long-term potential of our company." Ruzicka recently resigned as CEO of Orkla, a Norwegianconglomerate, where he led its transition from an industrial conglomerate toa branded consumer-goods company, Pandora explained. The new chairman has vast operational experience with strategy,transformation execution, brand building and retail optimization, Pandoraadded. He will start his new role on January 1. Image: Peter Ruzicka. (Pandora)