The moves are the latest sign of disharmony at the young company
Endless Jewelry has shaken up its C-suite, saying goodbye to its CEO, chief financial officer, and chief marketing officer.
Global supply chain director Ulrik Rasch will replace current CEO Paul Moonga as company head. Moonga has served as CEO since mid-2015.
Also departing: chief financial officer Hans Jørgen Krabbenhøft and chief marketing officer Mikkel Berg. Berg, former global CMO at Pandora, was appointed shortly after Moonga and announced he was leaving last month.
“The board [has] unanimously decided that Ulrik Rasch is the right person to undertake the CEO role and lead the company through the next phase of making Endless Jewelry a profitable business,” said chairman Henrik B. Sanders in a statement.
The moves are the latest sign of disharmony at the young company. Earlier this year, Jesper Nielsen, the Pandora veteran who founded the brand in 2013, also departed.
Danish TV reports that the resignations haven’t been limited to the top eschelons, and the company recently issued pink slips to as much as a quarter of its workforce.
A statement said that the Danish brand, owned largely by investment funds, has undergone a “significant reshaping” over the last two months to make it “more efficient, strengthen the sales and distribution structure, and ensure that Endless Jewelry continues to remain relevant to consumers.” It will step up its presence in North America, it added.