Pandora has named two new candidates to its board of directors, who have chaired everything from banks to fashion brands.
The son of a coal miner, Sir John Peace (pictured, right) served as chairman of Standard Chartered Bank from 2009 to 2016, and was chairman of fashion brand Burberry from 2002 until July of this year. He has also chaired credit reporting service Experian.
In a statement, Peace said his experience at Burberry would be “relevant” to Pandora.
“The brand was, at the time, confronted with a number of identical challenges [as Pandora is],” he said. “I look forward to being part of the transition that takes the company forward.”
The second proposed director, Isabelle Parize, served as the CEO of perfume retailer Douglas Group from 2016 to 2018. Douglas has 2,400 shops through Europe.
“I believe my experience within branded retail and general management can benefit Pandora on its course toward sustainable growth,” Parize said in a statement. “I have always cared deeply for products that improve consumers’ confidence and allow them to fully express who they are to the world. I believe Pandora is a brand that holds those exact offerings.“
The new appointments come as the brand has had a particularly rough year in the stock market—according to Bloomberg, it’s lost $7 billion in market value this year. The company is looking for a new CEO after longtime head Anders Colding Friis resigned in August.
The two will advise the board after the new year. The official board elections will take place at the company’s annual general meeting in March 2019.
Said Pandora board chairman Peder Tuborgh: “Over the last few quarters, the board has searched intensely for new directors…. Isabelle Parize and Sir John Peace bring great expertise and management experience from luxury retail and global consumer-facing companies.”
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