The Board of Directors of Pandora A/S announced the nomination of Peter A. Ruzicka as new member and chair of Pandora's Board of Directors, subject to election at an extraordinary general meeting to be held on 4 December 2019. Following the election of a new chair, Peder Tuborgh will step down as member and chair of the Board of Directors on 31 December 2019 at which time Peter A. Ruzicka will take over. Peter A. Ruzicka is a strong retail executive with significant international experience. He recently resigned as President and CEO of Oslo-listed Orkla ASA.