Petco appoints Michael Mohan as Interim CEO

Petco Health and Wellness Company (WOOF) announced the Company’s Board of Directors has appointed R. Michael Mohan to serve as Interim CEO, effective today. Ron Coughlin has stepped down as Petco’s CEO, Chairman, and member of the Board of Directors. He will serve as an advisor to the Board to support the leadership transition. The Board is conducting a comprehensive search for a permanent CEO with the support of a leading global executive search firm. Mohan is a highly accomplished and seasoned retail leader who has served on the Petco Board since March 2021 and as Lead Independent Director since July 2021. As the former President and COO of Best Buy (BBY), he was responsible for all aspects of global operations, including sales, merchandising, marketing, supply chain management, services, and new business initiatives across more than 1,000 stores and online channels worldwide. In conjunction with his appointment, Mohan stepped down from the Board’s Audit Committee and has been replaced by current Board member Gary Biggs, and also stepped down from the Lead Independent Director role. The Board size has also been reduced from 11 to 10 with Coughlin’s departure from the Board of Directors.