Petco Announces Leadership Changes for 2017
Jim Myers (left), Petco chairman and CEO, is set to retire early next year; Brad Weston, current Petco president and chief merchant, will take over as CEO in February 2017.
Petco announced that Jim Myers, chairman and CEO, will retire early 2017 and that Brad Weston, Petco’s current president and chief merchant, will take over as CEO early February.
Currently, Weston is responsible for driving the company’s overall business strategy, operations and merchandising activities, as well as marketing and e-commerce.
“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,” said Myers, who has been CEO since 2004. “I look forward to serving the company in an advisory capacity and as a board member going 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,” said Weston. “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.”
“A key factor in the decision that we and CPPIB [Canada Pension Plan Investment Board] made to invest in Petco last year was its strong bench of leadership talent to drive future growth,” said Cameron Breitner, a partner at CVC Capital Partners, which—along with the Canadian Pension Plan Investment Board—acquired Petco in a $4.6 billion deal last year. “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.”