Petco Health And Wellness Says Chairman, CEO And Director Ron Coughlin Steps Down

(RTTNews) - Petco Health and Wellness Co., Inc. (WOOF) announced Wednesday the Company's Board of Directors has appointed Michael Mohan to serve as Interim Chief Executive Officer, effective today.

Ron Coughlin has stepped down as Petco's Chairman, CEO 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 has been a member of Petco's Board of Directors since March 2021 and served as Lead Independent Director since July 2021. He also served on the Audit Committee until his appointment as Petco's Interim CEO. Previously, Mohan served as President and Chief Operating Officer of Best Buy Co., Inc. from June 2019 to July 2021

From 2004 to June 2019, he served in various leadership roles at Best Buy, overseeing services, customer experience, category management, merchandising, marketing and supply chain functions. Prior to joining Best Buy, Mr. Mohan was Vice President and General Merchandising Manager for Good Guys.

Mohan also previously worked at Future Shop in Canada from 1988 to 1997, prior to Best Buy's acquisition of the company, where he served in various merchandising roles.

In conjunction with his appointment, Mohan stepped down from the Board's Audit Committee and has been replaced by current Board member Gary Biggs, and also stepped down from the Lead Independent Director role.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.