Pandora Exec Steps Down After Eight Months

RAPAPORT... Jeremy Schwartz will leave his position as chief operatingofficer of Pandora after less than a year in the role, the jewelry retailersaid Tuesday. Schwartz joinedPandora in September, after its CEO, Anders Colding Friis, resigned. Since then, he hasbeen jointly managing the company with chief financial officer Anders Boyer. Alexander Lacik, whom Pandora hired as CEO in February, is due to assume control of the company when he joins in the near future. Schwartz, who is a former CEO of The Body Shop, therefore reached a mutual agreement with Pandora that he would leave the company, effective immediately. "I have sympathy for Jeremy's decision, considering theoverlap of competencies between him and Alexander Lacik," said Pandora chairmanPeder Tuborgh. "I would like to thank Jeremy for his significant contributionsto Pandora. Together with Boyer, he has been instrumental in driving thediagnosis phase of Programme Now [a streamlining and cost-reduction initiative] and he is leaving a clear road map to execute on." Schwartz will continue to act as an adviser to Pandora and Lacik in the short term, Pandora said. Image: Jeremy Schwartz. (Jeremy Schwartz/LinkedIn)