Pandora CWE loses two members of the board

Jesper Nielsen and Annette Laustrup Nielsen move on to other projects.

Pandora has announced that two members of its board of directors for central western Europe have resigned.

Jesper Nielsen and Annette Laustrup Nielsen have resigned from the board of directors of Pandora Central Western Europe (CWE), a holding company for Pandora’s activities within the locations its name depicts.

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The pair have been representing KASI Group, the former independent distributor of Pandora in Germany, Austria and Switzerland.

Annette Laustrup Nielsen is leaving her position as deputy managing director of Pandora CWE. Peter Mark will continue as president of Pandora CWE, a role he took over from Jesper Nielsen on April 1 this year.

Pandora CEO Mikkel Vendelin Olesen said: "In connection with the change of management of our activities in central and western Europe, which we announced in January and implemented in April, Jesper Nielsen expressed a desire to dedicate more time to his projects outside Pandora."

"Originally, he was meant to continue as chairman of the board of Pandora CWE. Instead, we have come to an agreement on a more informal setup, where we stay in contact and where Jesper Nielsen will be able to focus entirely on his other activities on a daily basis," Olesen added.

Jesper Nielsen said: "In the past year, I have built up a large and exciting business around the company AG København, which won its first men’s handball Danish Championship in May. I look forward to focusing on this full time, while following Pandora from the sidelines and contributing with ideas and advice when possible."

The brand’s CEO, Mikkel Vendelin Olesen, will continue as chairman of the board of Pandora CWE. Executive Vice President & CFO Henrik Holmark and executive vice president & CDO Thomas Ryge Mikkelsen also continue as board members.

In January 2010, Pandora and KASI Group merged to establish Pandora CWE, with Pandora as the majority owner with a 51% shareholding.




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