Petco names interim CEO | Pet Food Processing

SAN DIEGO — Petco Health and Wellness Company, Inc.’s Board of Directors has appointed R. Michael “Mike” Mohan to serve as interim chief executive officer of the company, effective March 13, after Ron Coughlin stepped down as CEO, chairman and a member of the board. The board is conducting a search for a permanent CEO, as Coughlin serves as an advisor during the leadership transition.

“Mike’s highly successful track record across multiple segments of the retail industry, deep knowledge of Petco, and strong operational skills make him the ideal executive to ensure a seamless transition as Petco moves forward,” said Cameron Breitner, Petco board member.

Mohan has served on the Petco board since March 2021 and as lead independent director since July 2021. He served as president and chief operating officer for Best Buy Co., Inc. from June 2019 to July 2021, where he was responsible for global operations including sales, merchandising, marketing, supply chain management, services and new business initiatives across more than 1,000 store and online channels.

“Petco is a powerful brand with an unparalleled offering that meets every need for pets, providing necessary products and services for these family members each day to support their health and wellness,” Mohan said. “I have a deep belief in our purpose and I look forward to working with the leadership team and our partners to continue strengthening our business, driving profitability through operational discipline and execution that will improve growth, drive margin and generate cash to create shareholder value. My focus will be on our people, our operations and our customer experience, working together to advance our strategy.”

Breitner added, “On behalf of the Board, we are deeply grateful for Ron’s many contributions to Petco over the past five years. Ron was instrumental in establishing and growing many aspects of our 360-degree pet ecosystem, significantly increasing Petco’s revenues, and leading the company through its IPO while always putting our people first.”

In conjunction with his appointment, Mohan stepped down from the lead independent director role. In addition, he stepped down from the board’s Audit Committee and has been replaced by current board member Gary Biggs. The size of the board of directors was reduced from 11 to 10 following Coughlin’s departure. 

“Working with our amazing partners through a period of tremendous change and growth has been the opportunity of a lifetime,” Coughlin said. “I am proud of the differentiated business model we’ve built that delivers the very best for pets, which positions the company well for the future.”

Read more about personnel changes throughout the industry.