Pandora appointed Björn Gulden, managing director of Deichmann Group as well as president and CEO of its Rack Room Shoes and Off Broadway Shoes chains, as its new CEO.
Deichmann Group is a German retail company that specializes in shoes and fashion. The Rack Room Shoes and Off Broadway Shoes chains have 450 stores and $850 million in sales. Prior to his work at Deichmann, Gulden spent eight years with Adidas, where he was part of the group that took Adidas public in 1995.
“Björn is an outstanding executive who has impressed me with his knowledge and hands-on experience from many years in the retail and wholesale business around the world,” said Pandora chairman Allan Leighton in a statement. “We are very happy to welcome him to the company.”
Gulden replaces interim CEO Marcello Bottoli, who was appointed after former CEO Mikkel Vendelin Olesen resigned following falling sales and profits. Bottoli will now become deputy chairman of the company’s board of directors.
Botolli has said that the company is taking a “hard look” at its overall strategy.
“Our offer is too dense, and is not tailored towards regional differences,” he has noted.