Pandora Appoints Executive to Develop New Strategy

(IDEX Online News) – Pandora appointed outgoing Lego Chief Financial Officer Sten Daugaard as Chief Development Officer, tasked with corporate strategy and development building.

Last August, the Danish jewelry company has initiated a strategic review after suffering a 30 percent drop in revenue. Daugaard will be responsible for developing and implementing the strategy arising from the strategic review's findings.

"Sten brings considerable international experience to Pandora having worked in a number of countries as well as in many different industries," said Pandora chairman Allan Leighton.

Daugaard, who was Lego's CFO until the end of last year, will step down as member of Pandora's board of directors and will join the company's executive board. The executive board also includes Interim CEO Marcello Bottoli and CFO Henrik Holmark. CEO Björn Gulden will replace Bottoli on March 1.