Pandora names Paulo Garcia as new CFO, Anders Boyer to retire

Pandora has chosen a new chief financial officer. Paulo Garcia will take over the position, as Anders Boyer is set to retire after a 14-year run in the company.

Garcia will officially join Pandora on October 1 and assume the role of CFO on December 1. Berta de Pablos-Barbier, the company’s chief executive officer, said in a statement on Thursday that Garcia combines “commercial and financial acumen with a strong focus on people and culture, while also bringing experience in digital transformation and the application of AI across business processes, making him the ideal candidate to further strengthen and build on Pandora’s financial performance.”

Before joining Pandora, Garcia worked as CFO of Walmart Mexico & Central America (Walmex). He has 25 years of international executive experience and has held positions at Ahold Delhaize and Unilever.

“The Board has worked closely with CEO Berta de Pablos-Barbier on robust succession planning, and I am happy that we can carry out a thorough handover from Anders to Paulo and maintain our strategic momentum. I want to thank Anders for his incredible contributions to Pandora during the past 14 years, and I wish him all the best in his next chapter as he retires from executive life,” Peter Ruzicka, chair of the board of directors, said in a statement.

Garcia said he is excited and honoured to take on the role as CFO of Pandora. “As the world’s largest jewellery brand, the company represents an attractive and unique business model with industry-leading margins and very high cash generation. The company has significant growth potential, and I look forward to working closely with the whole organisation to unlock the next phase of growth under Berta’s leadership,” he said.

Farewell

Boyer said he will leave the company “with a deep sense of gratitude for the many colleagues I have worked with and immense pride in what we have achieved together.” During his tenure as Pandora’s CFO, the company's revenue has grown by 389 percent, and total shareholder return has exceeded 2,000 percent, according to the company.

“I hand over to Paulo Garcia with great confidence, given his strong industry background and track record in global finance. I am certain that he is the right person to help drive the company’s continued growth. I now look forward to retiring from executive life and pursue a non-executive career,” Boyer said.