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Corporate governance

Pandora has established a corporate governance framework that emphasises accountability and transparency, thereby promoting responsible business practices and laying a solid foundation for sustained long-term value creation.

Pandora has disclosed its Corporate Governance Statement for 2024, cf. Section 107b of the Danish Financial Statements Act, see the archive here.  

Pandora strives to exercise good corporate governance at all times and Pandora assesses its practices against the Corporate Governance Recommendations of the Danish Committee on Corporate Governance. As a publicly listed company, Pandora is subject to the disclosure requirements in applicable legislation and the regulations of Nasdaq Copenhagen.

The Board of Directors remains committed to, and complies with, all the Danish Corporate Governance Recommendations as adopted in December 2020.


Leadership structure 

The corporate authority is divided between the Board of Directors (the Board) and Executive Management. The Board outlines the overall vision, strategy and objectives of Pandora’s business activities and supervises the performance of Executive Management. In addition, the Board is responsible for embedding sustainability in Pandora’s purpose, strategy and objectives. This includes
reviewing sustainability performance and reporting, as well as monitoring and overseeing progress related to our sustainability strategy.

The Board has established Audit, Remuneration and Nomination Committees, and members and chairs of these committees are appointed from within the Board. The committees’ terms of reference are available under Governance documents. Members of Executive Management are appointed by the Board. Executive Management is responsible for the day-to-day management and for the execution of Pandora’s strategy. In addition, Pandora has an Executive Leadership Team. The team members are responsible for the day-to-day operations of their respective business areas, including sustainability and serve as a part of Pandora’s overall leadership.

Board activities in 2024
The Board held nine meetings in 2024. Its primary focus was to navigate Pandora carefully through uncertain macro-economic circumstances, including the implications from increased commodity prices and complex socio-political environments. Additionally, the Board ensured Pandora remains aligned with the next phase of the Phoenix strategy, announced during Pandora’s Capital Markets Day in October 2023, which focuses on transforming the company into a full jewellery brand. Furthermore, the Board has overseen the integration of sustainability into relevant processes in Pandora, ensuring alignment with our strategic priorities and the sustainability targets. 

Board evaluation

Each year, the Board conducts a board review focusing on its effectiveness and skills. The ideal mix of skills and experience required of Board members includes: 

  • Board experience
  • Executive management 
  • Sectoral experience 
  • Marketing and brand 
  • Retail 
  • Digitalisation 
  • Sustainability 
  • Finance 
  • Governance

An external assessment of the Board’s skills and effectiveness is conducted every three years to ensure objectivity and benchmarking. In 2024, the board effectiveness review was conducted with the support of an external provider to ensure objectivity and benchmarking. The results identified that the Board continues to be well-established and well-functioning, supported by a strong belief in the strategy and effectiveness in collaboration with the committees and Executive Management. (ESRS 2 GOV-1)