Pandora Chief Operating Officer Steps Down

Jeremy Schwartz (pictured), the former Body Shop CEO who has been serving as Pandora chief operating officer since September, has stepped down.

The news follows the appointment of Alexander Lacik as the charm manufacturer’s new president and CEO. Schwartz and chief financial officer Anders Boyer had been serving as co-CEOs on an interim basis following the departure of CEO Anders Colding Friis last year.

“I have sympathy for Jeremy’s decision considering the overlap of competencies between him and Alexander Lacik,” said Pandora chairman Peder Tuborgh, who is also stepping down this year, in a statement. “I would like to thank Jeremy for his significant contributions to Pandora. Together with Anders Boyer, he has been instrumental in driving the diagnosis phase of [new strategy] Programme NOW, and he is leaving a clear roadmap to execute on.”

With his experience running the Body Shop, some had expected Schwartz to ascend to the top job. During the company’s Feb. 3 teleconference, an analyst asked him: “Jeremy, would you be open to consider the CEO role, in the remote case you were asked by the board?”

Schwartz responded, “I don’t think it is appropriate to make a comment like that, but thank you for the question.”

Eleven days later, the company announced it had chosen Lacik as CEO, who has a wide range of executive and marketing experience. Since 2017, he has been CEO of Britax, a producer of child safety products, and he has worked for Procter & Gamble and British consumer product company Reckitt Benckiser.

However, it has been unclear when Lacik will officially take the reins. Pandora has said that he will take the reins before Sept. 1. The release issued today said that Lacik will join the company “within the foreseeable future.”

Schwartz will continue to act as an adviser to Pandora to support the arrival of Lacik.

(Image via: LinkedIn)

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