Pandora Appoints New China Chief

RAPAPORT... Pandora has hired former Nike executive Geena Tok asmanaging director for its China business, replacing Anthony Asinas, who willbecome managing director for Hong Kong and Macau, the jeweler said Sunday. Tok (pictured), who was managing director and chief merchant at NikeChina for 17 years, will oversee Pandora's 200 stores throughout the country. Pandora has had a challenging time in China over the pastyear, and recently noted a rise in unauthorized sales of its products on thegrey market. The company subsequently lowered its prices in China by approximately15% in an effort to compete with those unlicensed sellers. Pandora CEO Anders Colding Friis stepped down from his position after the company's profit fell 15% in the first quarter -largelydue to a drop in sales in the country. The retailer also laid off 397 employees earlier this month, in an effort to cut costs.Tok will work out of Pandora's Shanghai office. She willreport to Kenneth Madsen, president of the Asia-Pacific region.