Pandora’s North America GM Departs Amid Executive Changes

Copenhagen, Denmark—Pandora is reshuffling its executive team as Berta de Pablos-Barbier settles in as the company’s new CEO.

She succeeded former CEO Alexander Lacik, who left Pandora at the end of 2025 after seven years at the helm

In its annual report, released Wednesday, Pandora said Luciano Rodembusch, senior vice president and general manager of North America, will be leaving the company.

He will join Samsonite International as president of Tumi, according to a report.

The former Tiffany & Co. executive joined Pandora in 2021. 

A search is underway for his replacement, the company said.

Thomas Hansen, general manager of Northern Europe, also is moving on. David Boynton, formerly interim general manager of the Eastern Europe cluster, will take over his role.

Hansen is leaving to pursue new opportunities, Pandora said.

In addition, Pandora named luxury veteran Philippa Newman, who has worked for Michael Kors, Tory Burch, Alexander McQueen and Donna Karan, as its new chief product officer, effective March 9.

In her new role, Newman will oversee Pandora’s end-to-end product creation including design, collections management, and development.

Newman will report directly to de Pablos-Barbier and will join Pandora’s executive leadership team. She currently lives in New York but will relocate to Pandora’s headquarters in Copenhagen this year.

Newman succeeds Stephen Fairchild, who has held the role since 2011. He is taking on a new role as chief strategic creative and cultural officer.

In this new executive leadership role, Fairchild will focus on promoting cultural and brand relevance through Pandora’s material innovation strategy. 

He also will be tasked with strategic and creative leadership, working to develop new creative concepts, including trend explorations, collaborations, and future partners. 

The leadership changes were announced alongside Pandora’s fourth-quarter and full-year results.

Pandora’s 2025 performance fell short of its forecast as it faced softening traffic in nearly all major markets and declining consumer sentiment in North America.

For the full year, revenue was up 3 percent year-over-year at actual exchange rates (up 6 percent on an organic basis) to 32.55 billion Danish kroner ($5.15 billion), with like-for-like sales growth of 2 percent.

“We delivered 6 percent organic growth in 2025 and while the macroeconomic backdrop was challenging, growth was below our expectations,” de Pablos-Barbier said in the company’s earnings release.

“As new CEO, my priorities are clear and we have plans to strengthen brand desirability, reduce commodity exposure, and evolve how we drive profitable growth.”

In the fourth quarter, revenue was down 1 percent year-over-year at actual exchange rates (up 4 percent on an organic basis) to 11.86 billion Danish kroner ($1.88 billion), with like-for-like sales flat.

Online sales fueled growth in Q4, with like-for-like sales of 4 percent. Like-for-like sales in its physical stores were down 2 percent.

The company said its Q4 performance reflects its need to course-correct in certain areas, but it also highlighted the “challenging” consumer environment across most regions.

North America, in particular, saw consumer sentiment decline, with traffic softening in November and December.

Sales in North America were up less than 1 percent in Q4, though full-year sales grew 7 percent at actual exchange rates.

Globally, street traffic was down in nine out of 10 of its biggest markets in Q4, said Pandora.

As for its jewelry offerings, Pandora announced this week that it plans to debut a new platinum-plated jewelry collection as it looks to avoid silver’s volatile price swings.

The company also highlighted its “Pandora Talisman” collection of medallions, which debuted at the end of Q3.

“The launch illustrates the type of design-led newness required going forward: clearer differentiation, stronger storytelling, and concepts designed to generate earned media, attract new consumers, and support long-term revenue growth,” Pandora said.

Its brand ambassadors, which include popular girl group Katseye as well as singers and actresses Chloe and Halle Bailey, also helped boost its visibility.

Pandora divides its collections into segments when reporting its results.

In the core segment, which includes Pandora Talisman, sales were up in the fourth quarter and for the full year.

Its “fuel with more” segment, which includes lab-grown diamond jewelry as well as the “Timeless” and “Signature” collections, saw sales dip in Q4 but rise for the full year.

Sales of its lab-grown diamond jewelry collection alone were down in Q4 but up for the full year, accounting for 1 percent of its revenue.

Pandora said it has plans to boost growth in the “fuel with more” category, focusing on curated collections with distinct aesthetics and improved storytelling.

Pandora has continued with its expansion, opening net 12 concept stores and 10 shop-in-shops in Q4.

In the last 12 months, Pandora has added net 23 concept stores and 33 Pandora-operated shop-in-shops.

This year, the retailer is aiming for 50 to 75 net concept store openings, and 25 to 50 shop-in-shops.

Looking ahead, Pandora said the focus for 2026 will be on “sharpening execution and continuing driving brand heat to navigate macro challenges.”

The company is forecasting sales will range between -1 percent and +2 percent in 2026 with an EBIT margin of 21-22 percent.

Like-for-like sales growth is flat so far in Q1, it said.

Pandora’s Q1 results are set to be released on May 6.