Petco has announced that its chairman and CEO, Jim Myers, a 26-year company veteran and CEO since 2004, will be retiring. As part of Petco’s long-term succession plan, company President and Chief Merchant Brad Weston, who joined Petco in 2011, will succeed Myers as CEO as of February 1, 2017.
According to a press release, Myers joined Petco in 1990 and has been a key leader in building and growing the company from a regional player into a leading national pet specialty retail chain with more than 1,470 Petco and Unleashed by Petco stores in the U.S., Mexico and Puerto Rico. Petco also boasts a rapidly growing online business through www.petco.com and Drs. Foster & Smith, the leading veterinary-operated pet product supplier of prescription services and pet supplies.
“I am tremendously proud of the entire Petco team and all we’ve accomplished during the last 26 years,” Myers said. “We’ve assembled one of the strongest leadership teams in the industry and together we’ve built a great brand and a very clear strategy that informs our long-term objectives and priorities.”
“There is no one better than Brad to lead Petco as we continue to be pet parents’ trusted partner of choice, and continue to evolve and grow as a leader in the pet specialty business,” he added. “I look forward to serving the company in an advisory capacity and as a board member going forward.”
As President and Chief Merchant, Weston has been responsible for driving the company’s overall business strategy, operations and merchandising activities, as well as marketing and e-commerce. Prior to joining Petco, he held senior leadership roles at Dick’s Sporting Goods, May Merchandising Company and Robinsons-May.
“Petco’s bright future is due in large part to Jim Myers’ vision, dedication and hard work,” said Christopher Stadler, managing partner of CVC Capital Partners (CVC). “Under his leadership, the company has experienced significant growth, and as the retail landscape has evolved, Jim has created a great foundation from which Petco will continue to grow. All stakeholders of Petco owe a huge debt of gratitude to Jim for all he’s done to make Petco the pet parents’ trusted partner of choice.”
“A key factor in the decision that we and CPPIB made to invest in Petco last year was its strong bench of leadership talent to drive future growth,” said Cameron Breitner, partner of CVC. “In his five years with Petco, Brad Weston has clearly proven his ability to lead Petco forward in its ongoing commitment to meet the needs of pet parents across all demographics and expand in new and innovative ways. We are very glad that Jim Myers will remain an important part of Petco’s future and are excited for Brad as he takes this step forward.”
“I couldn’t be more excited about the incredible opportunities that lie ahead for Petco and our more than 25,000 Petco Partners across the company,” Weston said. “We’ve come a long way over the past 50 years and I look forward to working closely with our partners, vendors and other stakeholders to continue supporting pet parents with the very best in products, services and solutions for better lives together.”
For more information about Petco, visit www.petco.com.