Petco Appoints Omnichannel Veteran R. Michael Mohan as Lead Independent Director
Petco Health and Wellness Company (NASDAQ: WOOF) has appointed R. Michael Mohan as Lead Independent Director, effective July 12, 2021. Mohan, who joined the board in March 2021, brings extensive retail experience, having previously served as President and COO of Best Buy. This move is part of Petco's strategy to enhance transformation and growth, with Chairman and CEO Ron Coughlin emphasizing Mohan's leadership qualities. Mohan aims to further advance Petco's mission to improve pet lives and support its growth strategy.
- Appointment of R. Michael Mohan as Lead Independent Director reflects strategic leadership enhancement.
- Mohan's experience at Best Buy is expected to strengthen Petco's transformation and growth initiatives.
- Concerns may arise regarding continuity and experience gaps with new leadership roles.
SAN DIEGO, July 12, 2021 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (NASDAQ: WOOF), a complete partner in pet health and wellness, today announced that its Board of Directors has appointed R. Michael (Mike) Mohan as Lead Independent Director.
Mohan joined Petco's Board of Directors in March 2021 and will continue to serve on its Audit Committee. Mohan is a seasoned retail leader and most recently served as the President and Chief Operating Officer of Best Buy Co., Inc. As President and COO, he was responsible for the operations of Best Buy's U.S. and International businesses and led services, customer experience, category management, merchandising, marketing and supply chain.
"We're fortunate to have a leader of Mike's caliber and experience take on the important role of Lead Independent Director as we continue to execute on our transformation and growth strategy," said Ron Coughlin, Chairman and CEO of Petco. "His experience leading Best Buy through a successful transformation towards services and e-commerce as well as how to hire, train and motivate teams has been an important asset on our board and will continue to serve Petco well."
"Petco has executed a remarkable transformation and it's an honor to take my role on Petco's board to a new level," said Mohan. "Petco's mission to improve the lives of pets and those that work at Petco combined with its differentiated strategy and proven executional capability has already made it a formidable player in the category, and I'm excited to help accelerate progress against the company's strategy and people agenda."
Mohan joined Best Buy in 2004 and served in a variety of leadership roles, including COO of its U.S. business, and Chief Merchandising and Marketing Officer. Through these roles, Mohan demonstrated his extensive retail industry expertise, management experience and digital marketing acumen. He also serves on the Board of Directors of Bloomin' Brands, Inc., and as a national trustee for the Boys & Girls Club of America.
About Petco, The Health + Wellness Co.
Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and our own Petco partners. Since our founding in 1965, we've been striving to set new standards in pet care, delivering comprehensive wellness solutions through our products and services, and creating communities that deepen the pet-pet parent bond. We operate more than 1,500 Petco locations across the U.S., Mexico and Puerto Rico, including a growing network of more than 100 in-store veterinary hospitals, and offer a complete online resource for pet health and wellness at petco.com and on the Petco app. In tandem with Petco Love (formerly the Petco Foundation), an independent nonprofit organization, we work with and support thousands of local animal welfare groups across the country and, through in-store adoption events, we've helped find homes for more than 6.5 million animals.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning expectations, beliefs, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are other than statements of historical fact. Although Petco believes that the expectations and assumptions reflected in these statements are reasonable, there can be no assurance that these expectations will prove to be correct. Forward-looking statements are subject to many risks and uncertainties, including the risk factors that Petco identifies in its Securities and Exchange Commission filings, and actual results may differ materially from the results discussed in such forward-looking statements. Petco undertakes no duty to update publicly any forward-looking statement that it may make, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority.
Investor Contact:
Petco Health and Wellness Company, Inc.
Kristy Moser, Vice President, Strategic Financial Planning and Analysis and Investor Relations
Kristine.moser@petco.com
Media Contact:
Petco Health and Wellness Company, Inc.
Yvonne Tarrab, Public Relations Specialist
yvonne.tarrab@petco.com
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SOURCE Petco Health and Wellness Company, Inc.
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