Pandora names new board chair
Dec 23, 2019
Danish jewelry company Pandora has officially elected Peter A. Ruzicka as its new chair of the board of directors, effective January 1, 2020.
Ruzicka comes to the board with extensive retail leadership experience, having recently resigned as president and CEO of Orkla ASA, one of the largest companies in Norway. During his five years in the position, he led Orkla in the transition from an industrial conglomerate to a focused branded, consumer goods company with approximately 75% of its sales outside Norway.
Before Orkla, Ruzicka was managing director of several large retail companies, primarily within the FMCG sector, in the Czech Republic, Slovakia and the Baltics.
Ruzicka was a member of Orkla's board of directors from 2003 to 2005 and from 2008 to 2014. He has also acted as a board member of Steen & Strøm ASA and Komplett AS, among other companies, and he is a current member of the board at Jotun A/S, a Norwegian chemicals company.
Peder Tuborgh will step down both as member and chair of the board of directors on December 31, 2019. He first announced the search for his successor in March, the same month that the company announced a major share buyback program meant to reduce Pandora’s share capital and meet obligations arising from employee share option programs.
Tuborgh first joined as the chairman of the Pandora’s board in 2014. That year, the company appointed Anders Colding Friis as its fifth CEO since going public in 2010. Currently, the company is on its sixth CEO, Alexander Lacik, who began in April.
Under Lacik, Pandora has been pursuing a brand turnaround strategy to revive its relevancy with consumers after a lack of innovation and overstretching its range caused the popularity of its jewelry to drop.
Earlier this month, the jewelry company further strengthened its leadership team by appointing Carla Liuni, former vice president of global marketing and communication at Bulgari, as its new chief marketing officer and member of its executive leadership team.
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