Pandora A/S announced that Sten Daugaard (54) has agreed to join the company and become Chief Development Officer and member of the Executive Board of the company, effective from January 30, 2012. Sten Daugaard, who was Chief Financial Officer of The Lego Group until the end of 2011, will step down as member of the Board of Directors at PANDORA to take up this new position. In his new role, Sten Daugaard will be responsible for Corporate Strategy & Development building on the findings and actions arising from the strategic review, which was initiated by the Board in August 2011.