Updated 10:32 a.m. ET Sept. 30
PARIS — Alexander Lacik, Pandora’s president and chief executive officer for 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 in what the company describes as an evolution, rather than a revolution. She will be charged with continuing to ramp up initiatives Lacik has put in place during his tenure, which include growing in new categories and geographies and ramping up inclusivity.
Related Articles
“The plan moving forward is first to remain very aligned to this strategy that has been very successful for Pandora,” de Pablos-Barbier told WWD in a phone interview after the announcement on Tuesday.
You May Also Like
“Don’t expect any big changes in strategy: We have a strategy that works and we will continue that,” said Peter Ruzicka, chair of Pandora’s board of directors, who described de Pablos-Barbier as “the clear number-one choice” for the role.
The former LVMH Moët Hennessy Louis Vuitton executive joined the firm last November and has since accelerated its focus on design and embedding itself in popular culture, as with the launch of its Talisman collection in August, fronted by Tyla.
“What we will do a little bit more of is continuing to strengthen brand desirability…deepening our cultural relevance,” de Pablos-Barbier said. “We are a global brand with a global positioning, but [we will look more at] touching some of the local resonance that is important to connect with all of our audiences. Last but not least…we are working on bringing more creativity to our collections.”
De Pablos-Barbier “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,” Ruzicka stated. “Alexander leaves the business in excellent shape, with a strategic direction that holds plenty of future growth,” he highlighted.
“Under Alexander, the business has grown 45 percent and the total shareholder return has been more than 250 percent. It’s become a really iconic global brand and on top of that the sustainability leader. I think we have great potential and we look forward to the next chapter,” Ruzicka added.
Lacik, who took on the president and CEO role at Pandora in April 2019, is credited with leading its successful turnaround and launching its Phoenix strategy to transform it into a “full jewelry brand,” extending beyond its core charm business and reinforcing its sustainability strategy.
The Swedish native, who is 60, told WWD he has no plans for another major executive role. “I’ve been in the fast lane for 35 years, and my family has been hanging in there. Now comes the time for me to pay back. The first period is going to be spending more time with the family, taking care of myself, then we’ll see what happens. I’m not gunning for another operational role. I said when I joined Pandora this is the last one to try to go for gold,” he said.
The formal handover will take place next March at the company’s annual general meeting. “Alexander and Berta have a very good partnership, and will use those five months for a very smooth transition,” Ruzicka said.
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 Ltd. 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.”
Pandora’s shares have fallen 36.2 percent so far this year, and have dipped 18.6 percent since the company released weaker than expected second-quarter results in August. Its third-quarter numbers are due out Nov. 5, and the executives declined to be drawn on current trading.
The market reacted largely positively to the news on Tuesday, with Pandora shares rising slightly, up 0.71 percent on the previous day’s close in mid-afternoon trading.