Pandora hires ex-Lego director to lead strategy

Sten-Daugaard.jpg

Sten Daugaard takes chief development role after 17 months on board.

Pandora has hired ex-Lego director Sten Daugaard as chief development officer.

The appointment of Daugaard, who has sat on the Pandora board since August 2010, is effective immediately. He will be responsible for corporate strategy and development at the jewellery giant and will build on the findings and actions arising from the brand’s August strategic review.

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

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Daugaard will step down from the board of directors at Lego, where he had worked as chief financial officer until year-end 2011, to take up his role with Pandora.

Before joining Lego in 2008, where he was also a member of the management board, Daugaard was with the German-based SGL Group where he held various top-end positions within corporate finance, most recently as chief financial officer.

Prior to this he worked as chief financial officer and chief executive officer of LTU Group Holding and LTU International Airways from 2000 to 2003.

Daugaard also currently serves as a member of the advisory board at Commerzbank.

Pandora added that the appointment of Daugaard will have no impact on Pandora’s outlook for 2011.

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