Pandora Hires Industry Outsider as CEO

RAPAPORT… Pandora has named veteran consumer-brand executive Alexander
Lacik as its CEO, as it seeks to transform the company following weak sales.

“Alexander is a brilliant marketer and brand architect, and
has throughout his career shown himself as a great leader and a highly
effective executor,” Pandora chairman Peder Tuborgh said. “His skills and
experience will be key to revitalizing the Pandora brand.”

Lacik currently serves as CEO of Britax, a global
manufacturer of child-safety products, and was previously North America president
at UK-based consumer-goods group Reckitt Benckiser. He has also held positions
in sales and marketing at Procter & Gamble.

His appointment comes
after Anders Colding Friis resigned as the jeweler’s CEO in August amid continued
sluggish consumer demand for its flagship charms. Chief operating officer
Jeremy Schwartz and chief financial officer Anders Boyer managed the company in
the interim, and will continue in that role until Lacik joins “as soon as
possible,” Pandora said Thursday.

Pandora is currently overhauling its marketing and customer
experience, 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, company
executives noted that it had not been giving customers enough incentives to
acquire multiple bracelets and charms — the “backbone” of its offering.

Image: Alexander Lacik. (Pandora)