Pandora Taps Head of Large Shoe Retailer as CEO

(IDEX Online News) – Danish jewelry maker Pandora appointed Björn Gulden as CEO. He is replacing Mikkel Vendelin Olesen who stepped down in August after the company posted disappointing second quarter results.

Gulden is currently managing director of the Deichmann Group as well as President and CEO of the wholly owned retail chains Rack Room Shoes and Off Broadway Shoes in the U.S.

Deichmann, headquartered in Essen, Germany, is currently present in 25 countries with 3,000 local shops and employs approximately 30,000 people. The company sells more than 150 million pairs of shoes per year and has about €4 billion in sales. Rack Room Shoes and Off Broadway Shoes have 450 stores and $850 million in sales.

Prior to his positions with Deichmann Group, Gulden was senior vice president of apparel and accessories at Adidas and was part of the management group that took Adidas public in 1995.

Gulden is a Norwegian citizen born in Switzerland.

"I am extremely excited about this opportunity and I look forward to working with the Pandora organization to realize the significant long-term value I see in this unique company," Gulden said.

Marcello Bottoli will continue as interim CEO until Gulden takes the helm in March.