Pandora Hires Ex-H&M Exec to Help Revamp

RAPAPORT... Pandora has hired Martino Pessina as chief commercial officer as part of its efforts to restructure the company and implement a turnaround.In the newly created role, Pessina will lead the Danish retailer's 10 new regional groups, and report directly to CEO Alexander Lacik, the company said Tuesday. He will be responsible for commercial operations across the company's more than 100 markets, and improve global merchandising, store development, planning and execution.Pessina, who previously served as president of North America for fashion retailer H&M, will also head a new Pandora division, network and franchise management, overseeing the store network and supporting franchise partners globally.Pandora implemented a new strategic organization earlier this month, which it feels will help it more quickly address its customers' needs. The restructuring includes closing its regional offices and grouping its markets into 10 clusters."As part of our turnaround program, we are strengthening the organization and moving Pandora closer to consumers," said Lacik. "Martino has an impressive track record in international mass-market fashion retail and will play a very important role in this transformation. He is a natural leader with excellent analytical skills and a deep understanding of shoppers."Pessina will join Pandora on April 2. Image: A Pandora store. (Pandora)