Managing director of Deichmann Bjorn Gulden to take over Bottoli role.
Pandora has announced its new chief executive as Norwegian businessman Björn Gulden, chosen from a number of “high-calibre international candidates” who came forward for the role.
The Pandora board is said to have reviewed a list of candidates, selecting Gulden for his exceptional business track records and skills that they feel are “ideal in managing the future development and growth” of the company.
Gulden said of his appointment: "I am extremely excited about this opportunity and I look forward to working with the Pandora organisation to realise the significant long-term value I see in this unique company."
Present chief executive Marcello Bottoli will maintain an interim position until Gulden takes over. Bottoli will, however, present Pandora’s interim results on February 21.
As of March 1 next year, Bottoli will become deputy chairman of the board. Current deputy chairman Torben Ballegaard Sørense will continue as member of the board of directors.
At present Gulden is the managing director of Deichmann Group, a German shoe and sport retailer with 3,000 stores in 25 countries. He is also president and chief executive of retail chain Rack Room Shoes and Off Broadway Shoes in the US.
He has also held roles as senior vice president of apparel and accessories at Adidas and was part of the management group that took Adidas public in 1995.
Allan Leighton, chairman of Pandora said: "Björn is an outstanding executive who has impressed me with his knowledge and hands-on experience from many years in the retail and wholesale business around the world.
“We are very happy to welcome him to the company. Marcello is doing a tremendous job as interim CEO. Getting him as Deputy Chairman of the Board means that we will harness all his learning going forward and ensure continuity and certainty to the outputs of the ongoing strategic review."
Pandora has said that the appointment of Gulden “will have no impact on Pandora’s outlook for 2011”.