Pandora (Oakland, Calif.) announced that its Chief Executive Officer Anders Colding Friis has resigned. Friis has been with the company for less than four years. The company is currently searching for his replacement.
The news follows the company’s latest financial earnings results which revealed lower-than-expected sales for the year.
As the company looks to improve business, it has hired a new Chief Operating Officer: Jeremy Schwartz will assume the role in September. He was formerly CEO of The Body Shop (Croydon, U.K.).
Until Friis’ replacement is found, Schwartz and the company’s current Chief Financial Officer Anders Boyer will be jointly responsible for running the company, according to Women’s Wear Daily.