Petco Hires CEO

Petco Health and Wellness Co. Inc. (San Diego) has hired Joel Anderson as CEO, effective July 29. That announcement was made several hours after Anderson’s former employer, value retailer Five Below, announced his exit “to pursue other interests.”

“Joel is an inspirational leader and a highly experienced retail CEO,” said Glenn Murphy, Executive Chairman of Petco’s board. “Over the course of his impressive career he has demonstrated the ability to build and lead great teams while creating significant shareholder value. I look forward to working closely with him as he leads Petco’s initiatives to improve operating and financial results.”

Said Anderson: “Petco is the leader in pet health and wellness and I see many opportunities to improve performance. I look forward to working closely with Glenn, the leadership team and the board of directors to create value for all our stakeholders.”

R. Michael Mohan will transition from his current role as interim CEO to chair a new board committee focused on Petco’s ongoing value creation initiatives, working with Anderson to ensure a smooth leadership transition and continued execution towards the company’s objectives.

Founded in 1965, Petco operates more than 1500 pet care centers across the U.S., Mexico and Puerto Rico, which offer merchandise, companion animals, grooming, training and a growing network of on-site veterinary hospitals and mobile veterinary clinics.