Pandora has elected Peter Ruzicka to succeed Peder Tuborgh as chairman of the board, as part of its efforts to reinvigorate interest in its brand.
Ruzicka’s appointment follows the recruitment earlier this year of Alexander Lacik as CEO, along with other executive changes, as the company seeks to cut costs and improve its profit via its Programme Now strategy.
Pandora announced in March that Tuborgh would step down as the Danish jeweler recorded disappointing sales and experienced problems with its new jewelry lines.
“We are progressing quickly with Programme Now to reenergize our brand and restore growth,” Tuborgh said. “Now, the time is right for me and for Pandora to bring in a new chair to realize the long-term potential of our company.”