President and COO Joseph O'Leary to Retire; CEO David Lenhardt to Assume Role of President
PHOENIX--(BUSINESS WIRE)--Jan. 14, 2014-- PetSmart, Inc. (NASDAQ: PETM), the leader in pet specialty retail, today announced it has made changes to its management team and organizational structure in conjunction with the retirement of Joseph O'Leary, President and Chief Operating Officer. These changes will become effective April 4, 2014.
"On behalf of everyone at PetSmart, I want to thank Joe for his leadership and dedication to the company, our associates and our customers," said David Lenhardt, Chief Executive Officer. "Joe has been an integral part of PetSmart's success for many years and we wish him all the best moving forward."
"I'm proud of all that we have accomplished during my time at PetSmart, and am grateful to have had the opportunity to work with such a talented team of leaders and associates," said Joe O'Leary. "I continue to believe in PetSmart's associates, vision and strategy, and it has been both a privilege and a pleasure to serve this great company for the past eight years."
PetSmart does not intend to replace the COO position and will realign these responsibilities among four newly created Executive Vice President positions, with Lenhardt assuming the title of President and CEO.
"Joe's retirement has provided the opportunity to take a fresh look at our organizational structure and establish a senior leadership team that will best position PetSmart for future growth," added Lenhardt. "We have strong and capable leaders, and with the addition of the new EVP positions, I'm confident we are in a position to deliver on our strategies and initiatives to drive future growth and deliver shareholder value."
As part of the new structure, PetSmart is creating a new position – EVP of Customer Experience, Strategic Planning and Corporate Development – which will focus on developing strategies for creating an unmatched customer experience, both in stores and online, and on developing organic and adjacent growth strategies across all platforms. Marketing, Strategic Planning and Corporate Development will report to this new EVP. An external search will be conducted to fill this new role. In addition, PetSmart will be conducting a search for a new Chief Information Officer to replace Don Beaver, who will also retire.
The following leaders will be named to the newly created EVP roles:
Carrie Teffner, who is currently Senior Vice President of Finance and Chief Financial Officer, will now serve as Executive Vice President and CFO with responsibilities for overseeing Finance and IS. The new Chief Information Officer will report directly to Teffner.
Matt McAdam, who is currently Senior Vice President of Merchandising, will now serve as Executive Vice President of Merchandising and Real Estate.
Bruce Thorn, who is currently Senior Vice President of Store Operations and Services, will now serve as Executive Vice President of Store Operations, Services and Supply Chain.
All four EVPs will report directly to Lenhardt.
PetSmart, Inc. (NASDAQ: PETM) is the largest specialty pet retailer of services and solutions for the lifetime needs of pets and is a leading online provider of pet supplies and pet care information (http://www.petsmart.com). The company employs approximately 54,000 associates and operates more than 1,314 pet stores in the United States, Canada and Puerto Rico, and over 196 in-store PetSmart® PetsHotel® dog and cat boarding facilities. PetSmart provides a broad range of competitively priced pet food and pet products; and offers dog training, pet grooming, pet boarding, PetSmart Doggie Day Camp SM day care services and pet adoption services. Through its in-store pet adoption partnership with PetSmart Charities®, PetSmart has helped save the lives of more than 5 million pets since 1994. PetSmart Charities, Inc. and PetSmart Charities of Canada, Inc. ("PetSmart Charities") are independent, nonprofit organizations that save the lives of homeless pets and reduce shelter intake through spay/neuter efforts. In 2012, nearly 450,000 dogs and cats found homes through PetSmart Charities' adoption centers in all PetSmart stores and by sponsoring community adoption events. PetSmart Charities is the leader in granting money to help pets in need, with more than $28 million given in 2012 throughout North America.
Source: PetSmart, Inc.
Michelle Friedman, 623-587-2108