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Pandora has announced that its chairman, Marcello Bottoli, will stand down from the role as soon as a successor is found, due to “other professional commitments”.
Bottoli said: “It has been a great honour to be a board member, interim CEO, and chairman of Pandora, and part of creating the platform for the success we have had in 2013.
“However, I have now started a new entrepreneurial project which will negatively impact my ability to dedicate the appropriate amount of time to the company.
“Therefore, after leading the search to find my successor I will, regretfully, stand down as chairman”.
The firm’s deputy chairman, Christian Frigast, said on behalf of the board: “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 led the team to build the platform for the recovery of the business that we are benefiting from today.
“We sincerely regret his decision and wish him well in his new entrepreneurial venture”.
Bottoli, Frigast and the ‘Nominations Committee’ will now initiate and lead the search for a new chairman. The firm did not indicate if there were any frontrunners to take up the post.
