Pets At Home top dog to depart
Ian Kellett informed the group’s board of his intention to pursue his own personal business interests, Pets said in a statement.
The chief executive of Pets At Home is to leave the company as he steps away from corporate life, with the firm’s retail head to replace him as top dog.
Ian Kellett informed the group’s board of his intention to pursue his own personal business interests, Pets said in a stock market statement.
Retail boss Peter Pritchard will succeed Mr Kellett, who will remain as chief executive until the end of May 2018 to ensure a smooth transition.
Mr Kellett joined Pets At Home in 2011 as commercial director and moved to the role of retail chief executive in 2015.
He oversaw the establishment of the firm’s sourcing office in China, the launch of the so-called “VIP club” for pets and the development of the group’s digital strategy.
“The actions we have taken this year to reposition retail pricing have landed well, and we have a clearly defined plan that will deliver further results. It is with this in mind that I feel able to move on and pursue my own personal business interests, which will provide me with a different type of challenge at this point in my career,” he said.
Pets made the announcement alongside half-year results, which saw an 11.3% fall in pre-tax profit to £40.8 million following a decrease in its margins linked to investment and the collapse in sterling.
Revenue rose 6% to £468 million, and like-for-like sales grew 3.9% in the period.
Shares were down 7% in morning trading to 165.8p.