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Pandora board chairman resigning

March 10, 2014

Copenhagen, Denmark--Due to “other professional commitments,” Pandora’s Chairman of the Board Marcello Bottoli will step down as soon as a successor is found, the jewelry company announced Monday. 

Once a board member of the company, Bottoli served as interim CEO between August 2011, when CEO Mikkel Vendelin Olesen resigned, and March 2012, when Bjørn Gulden came on board as CEO. He became deputy chairman of the board at that time. 

In July 2013, he became chairman of the board when Gulden left Pandora to head Puma and the company tapped then-Chairman Allan Leighton to become CEO. 

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Bottoli said in a statement released Monday that he has started a new entrepreneurial project and will not have enough time to devote to being board chairman anymore.  

He and Christian Frigast, deputy chairman of the board, along with the nominations committee, will lead the search for a new chairman of the board. They expect to find a successor this year.

“Marcello has been a great colleague, and board member, he has stepped up for the company on many occasions, not least as interim CEO, when he lead the team to build the platform for the recovery of the business that we are benefiting from today,” Frigast said. “We sincerely regret his decision and wish him well in his new entrepreneurial venture.”