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Pandora CEO Steps Down After Jewelry Maker Warned on Profit

  • Shares had lost almost half of value under Colding Friis
  • Jewelry maker hires Jeremy Schwartz from The Body Shop as COO
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Pandora CEO: I Will Be Leaving at the End of the Month
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Pandora A/S Chief Executive Officer Anders Colding Friis will step down after the once-high-flying Danish maker of charm bracelets fell to Earth.

The 54-year-old CEO’s plan to sustain growth at the world’s largest jewelry maker misfired after shoppers stopped flocking to its 2,500 stores, amassed across shopping malls and town centers in more than 100 countries during a two-decade expansion.