Saks Global names new CEO amid leadership transition; Pandora appoints new chief product officer

Saks Global has unveiled a sweeping leadership overhaul and financial restructuring as it seeks to stabilize operations and reposition itself for long-term growth in the luxury retail market.

The company announced a “transformative” transaction with a group of bondholders aimed at strengthening its balance sheet, as it prepares to restructure under bankruptcy court protection.

As part of the transition, Geoffroy van Raemdonck has been appointed chief executive officer, replacing Richard Baker, who stepped down less than two weeks after assuming the top role.

Van Raemdonck brings extensive turnaround experience, having led Neiman Marcus Group through a pandemic-era bankruptcy and subsequent recovery between 2018 and 2024. He exited the role following Saks’ acquisition of Neiman Marcus and is now tasked with guiding Saks Global through its next phase. 

To reinforce its leadership bench, Saks Global also named Darcy Penick as president and chief commercial officer, overseeing stores, marketing, buying, digital, analytics, and customer care across Saks Fifth Avenue and Neiman Marcus. Lana Todorovich was appointed chief global brand partnerships officer, leading enterprise-wide relationships with luxury brand partners.

Formed in late 2024 through the merger of Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, and Saks OFF 5TH, Saks Global operates 70 full-line luxury stores and controls nearly 13 million square feet of prime US retail real estate. The company said the new leadership team will focus on delivering personalized service, elevated experiences, and a clearer path forward for the business.

Pandora appoints Philippa Newman as chief product officer

Pandora has appointed Philippa Newman as its new chief product officer, effective March 9, 2026, strengthening its executive team as the jewelry group pushes its next phase of global growth. Newman will report directly to CEO Berta de Pablos-Barbier and join Pandora’s Executive Leadership Team.

In her new role, Newman will lead Pandora’s global product organisation, overseeing end-to-end product creation across design, collections management and development. She will be responsible for elevating Pandora’s collections through distinctive design, expanding into new aesthetic territories, and accelerating innovation in materials and craftsmanship. The role also includes managing creative output, assortment architecture and product drop cadence to translate creativity into scalable commercial growth.

Newman brings more than 25 years of experience from global luxury fashion and accessories brands. She joins Pandora from Michael Kors, where she served as chief brand & product officer, overseeing brand strategy and product across design, merchandising, manufacturing and sourcing. Her previous roles include senior positions at Tory Burch, Alexander McQueen and Donna Karan.

CEO Berta de Pablos-Barbier said Newman’s combination of creative leadership and commercial expertise would help accelerate Pandora’s growth. Newman described Pandora as an “iconic global brand” with significant potential.

Newman, an American national based in New York, will relocate to Copenhagen in 2026. She succeeds Stephen Fairchild, who becomes chief strategic creative & cultural officer after serving as chief product officer since 2011.

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Nathaniel Alexander Abaño

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