Overview

• Alexander Lacik will retire at the annual general meeting on March 11, 2026, with Berta de Pablos-Barbier set to take over as president and chief executive.
• The decision follows a board-run global search tied to long-term succession planning, with chair Peter Ruzicka calling her the clear number one candidate.
• De Pablos-Barbier, Pandora’s chief marketing officer since November 2024 and a former executive at Moët & Chandon, Mars Wrigley, Lacoste and Boucheron, will be the company’s first woman chief executive.
• Under Lacik’s Phoenix strategy, Pandora reports revenue growth of 45% and a workforce increase from 24,000 to 37,000, with 2024 revenue of DKK 31.7 billion.
• Initial market commentary was cautious, with an RBC analyst warning the leadership change could weigh on the shares given volatile demand, U.S. tariffs and commodity and foreign-exchange headwinds.