PetSmart's President and CEO Resigns
PetSmart Inc.’s CEO and President Michael Massey resigned from his position late last week. The retailer's board of directors has accepted his resignation and announced that Raymond Svider will serve as executive chairman to oversee the company’s operations with the senior leadership team. The board has initiated a search for Massey’s replacement.
Massey joined PetSmart as CEO when it went private in 2015, and led the company through a critical phase of strategic transformation creating strong growth and profitability.
“Michael was instrumental in creating an efficient, customer-focused retail organization and developing the company’s growth strategy,” said Svider. “This includes the recent acquisition of Chewy, making PetSmart the leading brick-and-mortar and online retailer in the industry."
“I'm pleased that, in such a short time, we've achieved the operating goals we set out at the acquisition of PetSmart to create a highly profitable and fast-growing retailer that leads both in brick-and-mortar and online, which is unique in retail,” said Massey. “With the structural changes achieved, I believe PetSmart is well positioned for the future and will continue to be the trusted partner to pet parents and pets.”