Petco Hires New CEO
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.