By  on August 28, 2014

PARIS — Danish jewelry group Pandora said Anders Colding Friis is to become its new chief executive officer.

He will succeed Allan Leighton, who is returning to the group’s board as co-deputy chairman in the spring, after releasing the company’s full-year results for 2014.

Friis joins Pandora from the Scandinavian Tobacco Group, billed as the world’s largest manufacturer of cigars and pipe tobacco, where he most recently held the position of group ceo.

“In Anders, we have found exactly that rare combination of strong leadership skills and thorough business understanding we have been looking for to take the company to the next stage,” said Leighton.

The fast-growing jewelry brand, whose net profits jumped 53.6 percent in the second quarter, said it would also name a new chairman of the board.

Peder Tuborgh, ceo of Arla Foods, billed as one of the strongest players in the international dairy arena, is subject to election at an extraordinary meeting to be held in October. Tuborgh would succeed Marcello Bottoli, who is to pursue “other professional commitments,” the company said.

The reshuffling comes on the heels of a turbulent period in the jewelry brand’s history. Friis will be the company’s fifth ceo since it went public in fall 2010, which was followed by a significant downgrade of the brand’s sales projections, causing its shares to plummet 65.4 percent in a single trading day in 2011.

Pandora was recently sued by a group of investors claiming the profit warning came too late.

The 2011 downgrade caused the departure of then-ceo Mikkel Vendelin Olesen. He was temporarily succeeded by Bottoli, then Bjørn Gulden, who left for Puma, and finally Leighton, who had originally served as the group’s chairman.

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