Pandora Hires Industry Outsider as CEO

RAPAPORT... Pandora has named veteran consumer-brand executive AlexanderLacik as its CEO, as it seeks to transform the company following weak sales. "Alexander is a brilliant marketer and brand architect, andhas throughout his career shown himself as a great leader and a highlyeffective executor," Pandora chairman Peder Tuborgh said. "His skills andexperience will be key to revitalizing the Pandora brand." Lacik currently serves as CEO of Britax, a globalmanufacturer of child-safety products, and was previously North America presidentat UK-based consumer-goods group Reckitt Benckiser. He has also held positionsin sales and marketing at Procter & Gamble. His appointment comesafter Anders Colding Friis resigned as the jeweler's CEO in August amid continuedsluggish consumer demand for its flagship charms. Chief operating officerJeremy Schwartz and chief financial officer Anders Boyer managed the company inthe interim, and will continue in that role until Lacik joins "as soon aspossible," Pandora said Thursday. Pandora is currently overhauling its marketing and customerexperience, 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, companyexecutives noted that it had not been giving customers enough incentives toacquire multiple bracelets and charms - the "backbone" of its offering. Image: Alexander Lacik. (Pandora)