Pandora CEO to retire in 2026, replaced by marketing chief

By Elviira Luoma

COPENHAGEN (Reuters) -Danish jewellery maker Pandora said on Tuesday that CEO Alexander Lacik would retire in March 2026 after seven years at the helm and Chief Marketing Officer Berta de Pablos-Barbier would succeed him.

The charm bracelet maker's share price fell 3.0% by 0746 GMT following the surprise announcement and is down 37% year-to-date as the company struggles with weak European sales, rising commodity prices and U.S. import tariffs.

De Pablos-Barbier was hired in November last year as a potential future leader of the group, and was the strongest candidate for CEO, Pandora said in a statement.

"She is the right person to lead our continued growth, and I am pleased that we can maintain strategic focus and momentum during this smooth and orderly leadership transition," Pandora Chair Peter Ruzicka said.

Before joining Pandora, Berta de Pablos-Barbier was CEO of LVMH's champagne brand Moet & Chandon, and in a 30-year career in luxury and consumer goods has also worked at Mars Wrigley, Lacoste and jeweller Boucheron.

"Even though we are the largest in our industry, Pandora still holds significant untapped potential," de Pablos-Barbier said in the statement.

Under Lacik's leadership, Copenhagen-based Pandora announced in 2021 that it would stop selling mined diamonds, opting instead for lab-made versions to attract younger shoppers with less expensive stones guaranteed not to have come from conflict zones.

After a dip in sales during the pandemic, Pandora's revenue has recovered sharply. The group's share price tripled during Lacik's tenure as CEO, which began in 2019.

(Reporting by Elviira Luoma; Editing by Terje Solsvik and Kate Mayberry)