PetIQ, Inc. Appoints Accomplished Retail Operations Executive, John Pearson, to Senior Vice President, Head of Services Division
PetIQ, a leading pet medication and wellness company, announced the appointment of John Pearson as Senior Vice President, Head of Services Division, effective immediately. Pearson, with a strong retail operations background from Good2Go Stores and Walmart, aims to enhance revenue and profitability in PetIQ's Services segment. CEO Cord Christensen emphasized the importance of this role as the company seeks to improve access to pet health products and services for more pet parents. PetIQ operates over 60,000 distribution points and offers veterinary wellness services through VIP Petcare.
- Appointment of John Pearson as SVP could lead to strategic growth.
- Pearson's experience in retail operations is expected to enhance PetIQ's Services Division.
- Concerns about continuity and experience gaps in leadership.
EAGLE, Idaho, May 18, 2022 (GLOBE NEWSWIRE) -- PetIQ, Inc. (“PetIQ” or the “Company”) (Nasdaq: PETQ), a leading pet medication and wellness company, today announced the appointment of accomplished retail operations executive, John Pearson, to Senior Vice President, Head of Services Division, reporting to Michael Smith, President and Chief Operating Officer, effective today. Pearson will be responsible for managing all aspects of PetIQ’s Services Division, including strategy and operations to fuel future growth in revenue and profitability.
Cord Christensen, Chairman and CEO commented, “On behalf of the Board of Directors and management team, I’d like to welcome John to the PetIQ family. John joins us with a very strong track record in consumer retail working across multiple product categories in key leadership roles having spent much of his career helping to fuel growth at the world’s largest retailer. He joins us at an important time as we look to further enhance and optimize our Services segment to reach more pet parents and their pets with our affordable and convenient access to pet health and wellness products and services. We look forward to him building on our strong foundation to help accelerate our growth and profitability over the next several years.”
Pearson stated, “I am thrilled to join Cord, Michael and the entire PetIQ team. I believe we have a strong runway for growth as we reach more underserved pets nationwide with PetIQ’s complementary service and product offering. I look forward to leveraging my experience in consumer retail operations to help the Company deliver on the strategic initiatives in the Services Division.”
Pearson joins PetIQ from Good2Go Stores, a multi-state convenience store chain, where he served as President and Chief Executive Officer from March 2020 to May 2022. Under his leadership Good2Go Stores, he added 19 locations and grew revenue
About PetIQ
PetIQ is a leading pet medication and wellness company delivering a smarter way for pet parents to help their pets live their best lives through convenient access to affordable veterinary products and services. The company engages with customers through more than 60,000 points of distribution across retail and e-commerce channels with its branded and distributed medications, which is further supported by its own world-class medications manufacturing facility in Omaha, Nebraska. The company’s national service platform, VIP Petcare, operates in over 2,900 retail partner locations in 42 states providing cost effective and convenient veterinary wellness services. PetIQ believes that pets are an important part of the family and deserve the best products and care we can give them.
Contact: Investor.relations@petiq.com or 208.513.1513
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, such as statements about our plans, objectives, expectations, assumptions or future events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “believe,” “intend,” “may,” “will,” “should,” “could” and similar expressions. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from any future results, performances, or achievements expressed or implied by the forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to, the impact of COVID-19 on our business and the global economy; our ability to successfully grow our business through acquisitions; our dependency on a limited number of customers; our ability to implement our growth strategy effectively; competition from veterinarians and others in our industry; reputational damage to our brands; economic trends and spending on pets; the effectiveness of our marketing and trade promotion programs; recalls or withdrawals of our products or product liability claims; our ability to manage our manufacturing and supply chain effectively; disruptions in our manufacturing and distribution chains; our ability to introduce new products and improve existing products; our ability to protect our intellectual property; costs associated with governmental regulation; our ability to keep and retain key employees; our ability to sustain profitability; and the risks set forth under the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2021 and other reports filed time to time with the Securities and Exchange Commission.
Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition or operating results. The forward-looking statements speak only as of the date on which they are made, and, except as required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Consequently, you should not place undue reliance on forward-looking statements.
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