Pandora CMO to succeed CEO as brand battles US tariffs

Pandora has announced that Chief Executive Alexander Lacik will retire in March 2026, after nearly seven years at the helm. Chief Marketing Officer Berta de Pablos-Barbier is set to succeed him.

De Pablos-Barbier joined Pandora in November 2024 from LVMH, where she served as CEO of Moët & Chandon. With a 30-year career spanning Mars Wrigley, Lacoste and jeweller Boucheron, she brings a mix of luxury and consumer goods experience.

"I am pleased that we can maintain strategic focus and momentum during this smooth and orderly leadership transition," Pandora Chair Peter Ruzicka said. He added that de Pablos-Barbier is "the right person to lead our continued growth."

Pablos-Barbier added: "I am honoured to take over as CEO after Alexander next year. Under his leadership, Pandora has become an iconic global brand, and we have charted a path to sustained growth for years to come as an accessible jewellery company.

"Even though we are the largest in our industry, Pandora still holds significant untapped potential, and I am excited to work with our amazing organisation and lead the company in this next chapter."

Lacik’s tenure since 2019 has been defined by recovery and repositioning. After sales dipped during the pandemic, revenues rebounded sharply, helping the group’s share price triple under his leadership. Notably, he also steered Pandora into the lab-grown diamond market in 2021, phasing out mined stones in a bid to attract younger consumers with more affordable, sustainable jewellery options.

For Pandora, the transition comes at a pivotal time. Pressures from US tariffs are testing its growth ambitions.

The announcement comes just weeks after Pandora revealed that UK sales had fallen 9% year-on-year as the group raised prices to offset soaring silver and gold costs. Globally, revenues grew 3% in the second quarter to 7.1 billion Danish kroner (£820 million), but the company warned of a looming financial hit worth 450 million Danish kroner (£52 million) next year as a direct result of US tariffs.

It comes as Pandora continues to expand its retail footprint, recently adding a new location on London's Oxford Street and launching its first UK-owned airport store at Manchester Airport - marking a significant milestone in the brand’s growth within the travel retail sector.