PANDORA announces that Marcello Bottoli will be standing down from his role as Chairman of the Board, due to other professional commitments, when a successor is found sometime in 2014.
Marcello Bottoli, Chairman of the Board of PANDORA said: "It has been a great honour to be a board member, interim CEO, and Chairman of PANDORA, and part of creating the platform for the success we have had in 2013. However, I have now started a new entrepreneurial project which will negatively impact my ability to dedicate the appropriate amount of time to the Company. Therefore, after leading the search to find my successor I will, regretfully, stand down as Chairman of PANDORA".
Christian Frigast, Deputy Chairman of the Board of PANDORA, said on behalf of the board: "Marcello has been a great colleague, and board member, he has stepped up for the Company on many occasions, not least as interim CEO, when he lead the team to build the platform for the recovery of the business that we are benefiting from today. We sincerely regret his decision and wish him well in his new entrepreneurial venture".
Marcello Bottoli as Chairman, and Christian Frigast as Deputy Chairman and the Nominations Committee will now initiate and lead the search for a new Chairman of the Board.
ABOUT PANDORA
PANDORA designs, manufactures and markets hand-finished and modern jewellery made from genuine materials at affordable prices. PANDORA jewellery is sold in more than 80 countries on six continents through approximately 10,300 points of sale, including approximately 1,100 Concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over 8,500 people worldwide of whom 5,900 are located in Gemopolis, Thailand, where the company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ OMX Copenhagen stock exchange in Denmark. In 2013, PANDORA's total revenue was DKK 9.0 billion (approximately EUR 1.2 billion). For more information, please visit www.pandoragroup.com.
CONTACT
For more information, please contact:
Morten Eismark
VP Group Investor Relations
Phone +45 3673 8213
Mobile +45 3045 6719