The company has faced troubling times in recent years due to changing market conditions and the rise of e-commerce but has developed an aggressive new brand strategy to boost profitability.
The company has also announced plans for a massive share buyback over the next 12 months, which will boost dividends for shareholders.
Tuborgh, who has led the Pandora board since 2014, revealed the decision to find a new Chairman at the company’s annual general meeting on 13 March. His replacement is likely to take over in 2020.
“Once our new CEO, Alexander Lacik, has been onboarded, and we start to see traction from [new brand strategy] Programme NOW, the foundation for a successful brand turnaround will be in place. Then it will be time for me to hand over the baton to a new chairman,” said Tuborgh.
Two new board members were also confirmed at the meeting – British businessman and former Burberry chairman Sir John Peace, and long-time Pandora board advisor Isabelle Parize.
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