Jewellery maker Pandora to start search for new chairman

Pandora will start the search for a new chairman this year to replace Peder Tuborgh, the Danish jewellery maker said on Wednesday, as the company reshuffles its top ranks to help regain its competitive edge in a weak retail market.

The Danish charm-bracelet maker appointed Alexander Lacik as its new chief executive in February to turn the company around following a profit warning. It has faced a number of challenges, including a fall in shopper numbers at malls in its main markets and difficulties with new jewellery lines.

Tuborgh will ask the company’s Nomination Committee to begin preparations in 2019 to appoint his successor, he said in a statement ahead of the company’s annual general meeting later.