SAN DIEGO, June 13, 2018 /PRNewswire/ -- Petco Animal
Supplies, Inc. ("Petco" or the "Company") announced today that it
has named Ron Coughlin as its new
Chief Executive Officer. Mr. Coughlin joins the Company from
HP Inc., where he served for 11 years, most recently as President
of Personal Systems. He will begin in this role as of
Monday, June 18.
Mr. Coughlin, a consumer products and technology industry
veteran with over 15 years of C-suite executive experience, spent
the last four years leading HP's Personal Systems segment, a
$33 billion global business that
offers consumer and commercial products and services.
Previously, he was SVP of Consumer PCs, SVP of LaserJet Hardware
and Commercial Document Services and Solutions, and SVP of Sales,
Strategy, and Marketing at HP. Prior to joining HP, Ron spent
12 years at PepsiCo in a range of senior executive roles, including
Chief Marketing Officer of PepsiCo International Beverages.
In that capacity, he was responsible for marketing activities
across Pepsi, 7 Up, Gatorade, and Tropicana in all markets outside
of the US.
Mr. Coughlin remarked, "Over the past 50+ years, Petco has
become one of the most trusted names in the pet category. I
look forward to working with Petco's strong existing leadership
team and more than 25,000 passionate partners to grow and transform
our business with a commitment to the needs of pet parents and the
animals they love first and foremost. We will drive
compelling in-store, online and services-related offerings, and we
will have an unwavering commitment to innovation and flawless
execution. I am excited about Petco's future."
Christopher Stadler, Managing
Partner of CVC Capital Partners ("CVC"), remarked, "Ron has
outstanding leadership experience with a consistent track record of
driving strong growth and transformation at consumer-facing
organizations. For the last 25 years, he has worked closely
with the world's top physical and online retailers. We are
very pleased to have the opportunity to work with Ron, and we are
excited about what his involvement will mean for the future of
Petco."
Cameron Breitner, Partner of CVC,
added, "We are greatly appreciative of the many valuable
contributions that Brad Weston has
made to Petco. He is a very talented executive who has helped
to establish a strong foundation for Petco's bright future, and we
are confident he will be successful in his future endeavors."
Brad Weston added, "It has been a
great privilege to work with the management team and partners at
Petco over the past seven years. In this time we have added
significant management talent and built out the Company's
capabilities in a variety of key areas. While I look forward
to pursuing other opportunities in the future, I am confident that
this transition leaves Petco well positioned for continued future
success."
About Petco and the Petco Foundation
With more than 50 years of service to pet parents, Petco is a
leading pet specialty retailer that obsesses about delivering
health and happy experiences for pets and the people who love
them. We do this by providing the products, services, advice
and experiences that keep pets physically fit, mentally alert,
socially engaged and emotionally happy. Everything we do is
guided by our vision for Healthier Pets. Happier People. Better
World. We operate more than 1,500 Petco and Unleashed by
Petco locations across the U.S., Mexico and Puerto
Rico; prescription services and pet supplies from the
leading veterinary-operated pet product supplier, Drs. Foster &
Smith; digitally-delivered pet health advice through PetCoach; and
petco.com. The Petco Foundation, an independent nonprofit
organization, has invested more than $200
million since it was created in 1999 to help promote and
improve the welfare of companion animals. In conjunction with
the Foundation, we work with and support thousands of local animal
welfare groups across the country and, through in-store adoption
events, help find homes for more than 400,000 animals every
year. Petco is primarily owned by funds controlled by CVC
Capital Partners and Canada Pension Plan Investment Board.
About CVC Capital Partners
CVC Capital Partners is a leading investment advisory firm.
Founded in 1981, CVC today has a network of 23 offices and
approximately 450 employees throughout Asia, Europe
and the U.S. To date, CVC has secured commitments of over
$110 billion from some of the world's
leading institutional investors across its private equity and
credit strategies. In total, CVC currently manages
c.$70 billion of assets. Today, funds
managed or advised by CVC are invested in 50 companies worldwide,
employing c.275,000 people in numerous countries. Together, these
companies have combined annual sales of over $55 billion.
For further information about CVC please visit: www.cvc.com.
About CPPIB
Canada Pension Plan Investment Board (CPPIB) is a professional
investment management organization that invests the funds not
needed by the Canada Pension Plan (CPP) to pay current benefits on
behalf of 20 million contributors and beneficiaries. In order to
build a diversified portfolio of CPP assets, CPPIB invests in
public equities, private equities, real estate, infrastructure and
fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York
City, São Paulo and Sydney,
CPPIB is governed and managed independently of the Canada Pension
Plan and at arm's length from governments. At March 31, 2018, the CPP Fund totaled C$356.1 billion.
For more information about CPPIB, please visit
www.cppib.com.
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SOURCE Petco