trending Market Intelligence /marketintelligence/en/news-insights/trending/af1jnldzogwd5si8w23k4w2 content esgSubNav
In This List

Pandora CEO to step down

Blog

Insight Weekly: US stock market downturn; Chinese bank earnings; Europe's big tech bills

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

Global M&A By the Numbers: Q1 2022

Blog

Insight Weekly: Earnings forecasts for US banks; corporate deleveraging; LatAm currency gains


Pandora CEO to step down

Danish jewelry-maker Pandora A/S said Aug. 9 that Anders Colding Friis has resigned as president and CEO of the company, effective Aug. 31.

The news follows Pandora's recent announcements that it lowered its revenue and EBITDA margin guidance for full-year 2018 and will cut 397 jobs as part of organizational changes to streamline operations and protect profitability.

Pandora also announced Aug. 9 the appointment of Jeremy Schwartz as chief operating officer, effective Sept. 1.

Previously, Schwartz was CEO of The Body Shop and held senior positions at different multinational companies.

Schwartz and Pandora's Chief Financial Officer Anders Boyer will jointly lead the company until the appointment of a new CEO.

Pandora said it also intends to add to its board of directors as part of a move to strengthen its leadership team.