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13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
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Former H&M Exec to Lead Pandora’s Turnaround
Martino Pessina is joining the company as its first chief commercial officer.
Copenhagen, Denmark—Pandora has filled the position of chief commercial officer, a new role created as part of its turnaround plan.
Martino Pessina will join Pandora on April 2, the Copenhagen-based jewelry company announced Tuesday.
He comes to Pandora after nearly 20 years at H&M, last serving as president of the fast-fashion retailer’s North American operations.
Pessina has experience in retail, sales, merchandising, operations and global expansion. Pandora said he led a “remarkable sales and profit turnaround” for H&M in North America, where it has over 700 stores and does more than $4 billion in sales a year.
RELATED CONTENT: Pandora Trims Workforce Again Amid Reorganization
At Pandora, Pessina will be responsible for heading the company’s 10 new “clusters,” managing commercial operations across more than 100 markets, while also overseeing a central office that will work to improve Pandora’s global merchandising, store development, planning and execution.
In addition, he will lead the new Network & Franchise Management office, which will manage the company’s retail real estate and support franchisees worldwide.
“Martino has an impressive track record in international mass-market fashion retail and will play a very important role in this transformation,” Pandora CEO Alexander Lacik said. “He is a natural leader with excellent analytical skills and a deep understanding of shoppers. I am very happy to welcome him to our leadership team.”
Pessina is currently based in New York, where H&M has its North American headquarters, but will be moving to Copenhagen to work at Pandora’s headquarters over the summer, a company spokesman said.
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