Pandora Names New CEO

Anders Colding Friis has been named the new CEO of Pandora.

He will succeed current CEO Allan Leighton in March 2015. Leighton will be recommended as co-deputy chairman of the board of directors following his resignation.

Friis is currently the CEO of Scandinavian Tobacco Group, the world’s largest manufacturer of cigars and pipe tobacco.

“I am delighted that Anders Colding Friis is joining the company as the new CEO,” Leighton said in a statement. “In Anders we have found exactly that rare combination of strong leadership skills and thorough business understanding we have been looking for to take the company to the next stage.”

The board of directors also announced that they will recommend Peder Tuborgh, CEO of dairy company Arla Foods, to succeed the current chairman, Marcello Bottoli, at the board meeting in October.

Bottoli announced in March that he would step down when a successor was found in order to pursue an entrepreneurial opportunity.

“A managed succession at the top of the company, at a time when its performance and opportunities have never been stronger, has been a key objective for the board,” Bottoli said in a statement.