On Tuesday, Petco announced Jim Myers, its CEO since 2004, will be retiring. The retailer's president and chief merchant, Brad Weston, will succeed Myers as CEO. Myers was a key leader at the pet supplies chain for 12 years, helping the company grow from a regional player to a nationally recognized retailer with two brands under its umbrella (Petco and Petco Unleashed). Myers will continue in his role as a company board member and adviser.
Total Retail's Take: With new competition in the pet supplies market, perhaps it was time for a change at Petco. Weston's diversified experience leading the marketing and e-commerce teams at Petco, along with operations and fulfillment, figures to help the retailer better execute an omnichannel strategy. Petco is making moves that signal a retail market expansion, announcing the hirings of John Zavada as its new CIO, and William Engen as senior vice president of retail market expansion.