Pandora CEO Resigns As Jeweler StrugglesThe jeweler had lowered its full-year guidance earlier this week.

[Collection]PARIS — Illustrating its current struggles, Pandora said on Thursday that its chief executive officer Anders Colding Friis has resigned and the company is launching a search for his replacement. The jeweler earlier this week lowered full year guidance as it pre-released second quarter figures, which were scheduled to be posted Aug. 14. Sales rose 4 percent in local currencies during the period, the company said. Thanking Colding Friis for “his hard work and commitment” for the past three and a half years, the board said it would stick to the four-year strategy laid out earlier this year. Pandora has recruited Jeremy Schwartz, formerly ceo of The Body Shop, to become chief operating officer, effective in September. Schwartz, along with chief financial officer Anders Boyer, will be jointly responsible for running the company until it finds a new ceo. Colding Friis will step down at the end of August. Pandora on Monday said it would ramp up the pace of store openings. According to the revised guidance, the company expects sales to rise by 4 percent to 7 percent in local currencies in 2018, compared to a previous forecast of 7 percent to 10 percent growth. It predicts a full-year EBITDA margin of about 32

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