PARIS – Alexander Lacik, Pandora’s president and chief executive officer of almost seven years, will retire at the company’s next annual general meeting on March 11. The Copenhagen-based contemporary jewelry maker’s chief marketing officer, Berta de Pablos-Barbier, will take over in the role.
“I am honored to take over as CEO after Alexander next year,” said de Pablos-Barbier, a former LVMH Moët Hennessy Louis Vuitton executive who joined the firm last November. “Under his leadership, Pandora has become an iconic global brand, and we have charted a path to sustained growth for years to come as an accessible jewelry company.”
“The board is delighted that Berta de Pablos-Barbier will be Pandora’s next CEO,” said Peter Ruzicka, chair of Pandora’s board of directors. “Together with Alexander Lacik, we brought her on board as a possible CEO candidate, and during our search she stood out as the clear number one. She is a visionary leader with great analytical skills and a perfect mix of experience from top brands across luxury, fashion and fast-moving consumer goods. She is the right person to lead our continued growth.”
Lacik, who took on the president and CEO role at Pandora in April 2019, is attributed with leading its successful turnaround and launching its Phoenix strategy to transform it into a “full jewelry brand,” extending beyond its core charm business. Under his leadership, the firm’s revenues have grown by 45 percent, it said, and its global workforce has expanded from 24,000 to 37,000.
Market response to the news was mitigated.
“Outgoing CEO Alexander Lacik is well regarded, and having delivered strong results at Pandora since his appointment in 2019, we believe shares are likely to be under pressure on this announcement,” Piral Dadhania of RBC Europe Limited wrote in a research note issued Tuesday morning. “The departure of a seasoned CEO is likely incrementally negative in Pandora’s equity story in the context of current volatile demand trends, U.S. tariffs and ongoing commodity and [foreign exchange] headwinds.”