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MajorsMay 05, 2016
Endless Jewelry Replaces Top Management
After less than a year in the position, Endless Jewelry CEO Paul Moonga is out, replaced by Ulrik Rasch, the brand’s global supply chain director.
Ulrik Rasch, pictured here, has been appointed CEO of Endless Jewelry, replacing Paul Moonga.
New York--After less than a year in the position, Endless Jewelry CEO Paul Moonga has been replaced by Ulrik Rasch, the brand’s global supply chain director.
Moonga was appointed CEO last June, replacing founder Jesper Nielsen, who stayed on board to focus on overall brand development while Moonga handled the company’s day-to-day operations before leaving the company completely earlier this year.
Moonga’s departure comes as part of the changes Endless announced earlier this year that it said were designed to make the company more efficient, strengthen the sales and distribution structure, and ensure that the brand stays relevant to consumers.
Concurrently, CMO Mikkel Berg and CFO Hans Jørgen Krabbenhøft also are leaving Endless. Rasch said that his first role as the new CEO will be to put together the new management team. Meanwhile, Moonga, Krabbenhøft and Berg all will stay on in this transition period until a new management team is in place.
According to Endless, Rasch has years of experience with operations leadership and value chain optimization. Before joining Endless as the global supply chain director, he was the CEO of operations at entertainment company Nordisk Film.
He also has led business transformations across business departments, units and geographies, connecting physical goods, infrastructure and value chains with digital services and technological developments, Endless said.
“The board has unanimously decided that Ulrik Rasch is the right person to undertake the CEO role and lead the company through the next phase of making Endless Jewelry a profitable business and realize the continued ambitions from the owners and the board,” said Chairman Henrik Sanders.
“By bringing strong experience in operations leadership and business transformations internationally, with a track record spanning significant brands within a diverse set of industries, Ulrik embodies exactly what the company requires going forward.”
Editor's Note: This story was update on May 10, 2016 to add information given after press time about the executives' replacements.
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