Former Asda and Royal Mail boss Allan Leighton lured by Pandora's charms

Former Asda and Royal Mail boss Allan Leighton has been named the new chief executive of Danish lucky-charms jeweller Pandora after Puma poached its current boss.

The jeweller, which is in need of better luck after a profit warning in 2011, has appointed Leighton, currently chairman at Pandora, as chief executive to replace Björn Gulden, who will take the top job at sports brand Puma in July. Pandora deputy chairman Marcello Bottoli will become chairman.

Leighton, who recently turned down the Premier League chairmanship, has had a string of top jobs in retail after rising to fame in the 1990s for turning around supermarkets group Asda. He was chairman of clothing chain Peacocks when it went in to administration last year, and is currently chairman of set-top box maker Pace.

Pandora, which has more than 900 stores in 70 countries, reported improved quarterly profit by slashing prices and unpopular products, and its shares had begun to recover this year.

But news of Guldren's departure today hit the share price and it dipped 6% in Copenhagen.

Gulden said: "This has been a very hard decision for me to make. Pandora is a great business which is performing well, but the sports industry has always been a major part of my life, and will allow my family to remain in Germany".