Petco Health and Wellness Company has appointed Glenn Murphy as executive chairman of the board of directors, effective immediately.
As executive chairman, Murphy will support the Petco leadership team's focus on improving profitability while implementing strategic actions to drive long-term growth. He will play a lead role in the board of directors' ongoing search for a permanent CEO.
Glenn Murphy as has been appointed executive chairman of the board of directors for Petco.Petco Health and Wellness Company
For his part, Murphy said Petco is a well-regarded brand in the high-growth pet category with a differentiated approach that is positioned to create significant long-term shareholder value.
"In evaluating the executive chairman role over the past several months, I have built conviction that there are many tangible opportunities to improve near-term operating and financial performance and deliver attractive long-term growth," said Murphy. "I look forward to working closely with management and the board of directors toward these objectives."
Murphy is currently the CEO of the consumer-focused investment firm FIS Holdings. Prior to founding FIS Holdings, he served as chairman of the board, including in the role of executive chairman for an interim period, at lululemon athletica inc. Murphy also served as chairman and CEO at Gap, Inc. from 2007-2014. Murphy previously served as chairman and CEO of Shoppers Drug Mart Inc. He began his career and spent over a decade at Loblaw Companies.
Following these changes, Petco Health and Wellness Company's board of directors will be composed of 11 members.
