Pandora Appoints New Board Member Amid Departing Deputy Chair
Pandora's Strategic Board Reshuffle
Pandora, the leading global jewellery brand, is set to embark on an exciting new chapter as it calls for an Extraordinary General Meeting. The nomination of Lars Sandahl Sørensen as a new board member is a crucial step that reflects the company’s ongoing commitment to innovation and growth. This important meeting is scheduled for 14 August 2025, and will also mark the departure of Deputy Chair, Christian Frigast, who has decided not to stand for re-election at the Annual General Meeting in 2026.
Introducing Lars Sandahl Sørensen
Lars Sandahl Sørensen comes to Pandora with a wealth of experience, primarily from his role as CEO of The Confederation of Danish Industry (DI), where he has made significant contributions to the Danish business landscape. With a robust background in handling strategic initiatives within highly competitive environments, Sørensen's leadership qualities are expected to greatly benefit Pandora as it continues its journey towards becoming the world's most cherished jewellery brand.
Achievements and Vision
Sørensen has a proven track record of steering major companies through transformations. His previous leadership roles include Deputy President/CEO and COO at Scandinavian Airlines Group. His experience aligns well with Pandora's vision of embracing change and driving growth, particularly in addressing market challenges and expanding internationally.
Peter A. Ruzicka, Chair of Pandora’s Board of Directors, highlighted Sørensen’s capabilities: "With Lars's strong leadership and proven results in competitive domains, we are confident that he will bring immense value to our ongoing transformation strategy." Sørensen expressed his excitement about the nomination, stating, "I look forward to contributing to Pandora’s growth and long-term value creation should I be elected to the Board." If his nomination is approved, he is expected to join as an independent board member.
Farewell to Christian Frigast
As Pandora welcomes new leadership, it bids farewell to Christian Frigast, who has been a pivotal figure in the company’s evolution since his tenure began shortly after the company's acquisition in 2008. Under Frigast’s guidance, Pandora made remarkable strides, including a successful IPO in 2010 that solidified its position in the market.
A Legacy of Leadership
Frigast reflected on his 15-year journey with Pandora, expressing pride in the accomplishments achieved during his time on the Board. He stated, "It has been a great honor to contribute to the company’s strategic decision-making during pivotal moments in its history. I have full confidence in Lars’s capabilities to drive Pandora forward." His departure marks the conclusion of an era, yet his contributions will undoubtedly leave a lasting impact.
Details of the Extraordinary General Meeting
The Extraordinary General Meeting will take place on Thursday, 14 August 2025, at Pandora's registered office in Copenhagen. The agenda will be brief, focusing primarily on the election of the new Board member and granting authority to the chair for any necessary amendments to the resolutions. All shareholders are encouraged to participate in this significant event, as the outcomes will shape the future of Pandora.
In conjunction with the vote, shareholders are reminded that their voting rights will be based on their shareholdings as of the date of registration, 7 August 2025. This meeting is expected to bring forward discussions that will not only acknowledge past achievements but also steer Pandora towards future milestones.
About Pandora
Pandora stands at the forefront of the jewellery industry, renowned for its high-quality craftsmanship and commitment to sustainability. With over 6,800 points of sale worldwide, including 2,700 concept stores, the brand has established a strong global presence. At the heart of its operations, Pandora focuses on ethical practices, utilizing only recycled materials in its jewellery to lessen environmental impact.
Headquartered in Copenhagen, Denmark, the company employs approximately 37,000 individuals globally and has set ambitious sustainability goals, aiming to halve greenhouse gas emissions across its value chain by 2030. Notably listed on the Nasdaq Copenhagen stock exchange, Pandora continues to deliver impressive financial results—recording revenue of DKK 31.7 billion in 2024.
Frequently Asked Questions
What changes are happening in the Board of Directors at Pandora?
Pandora has nominated Lars Sandahl Sørensen to join its Board of Directors, while Deputy Chair Christian Frigast will not seek re-election in 2026.
Who is Lars Sandahl Sørensen?
Sørensen is the current CEO of The Confederation of Danish Industry and has extensive experience in strategic leadership and management within large organizations.
When will the Extraordinary General Meeting take place?
The meeting is scheduled for 14 August 2025 at 8:30 a.m. CEST at Pandora’s registered office in Copenhagen.
What is on the agenda for the Extraordinary General Meeting?
The agenda includes the election of Lars Sandahl Sørensen to the Board and giving authority to the chair for further amendments to resolutions.
How can shareholders participate in the General Meeting?
Shareholders must notify the company of their attendance by 8 August 2025 to receive admission cards for the meeting.
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