On January 14, 2021, Ron Coughlin, the CEO of Petco Animal Supplies Inc., was photographed outside the Nasdaq MarketSite during Petco Health & Wellness Co.’s initial public offering (IPO) in New York. The news of Petco’s CEO, Ron Coughlin, stepping down was announced on Wednesday. The company stated that R. Michael Mohan, a board member and Best Buy executive, will take over as interim chief executive while they search for a permanent replacement. Coughlin will continue to support the leadership transition as an advisor to the board. In a statement, Coughlin expressed pride in the work he has done over the last five years and the opportunity to work with amazing partners through a period of tremendous change and growth. He also highlighted the differentiated business model that has been built to deliver the very best for pets, positioning the company well for the future. Mohan, who has been on the company’s board since March 2021, will step into the interim CEO role. For more information, you can visit www.cnbc.com
Source: CNBC
Date: 2024-03-14 04:38:32