Petco appoints new CEO

Petco has announced that its board of directors has appointed Joel D. Anderson as chief executive officer (CEO) with effect from 29 July. Anderson has also been added to the company's board of directors.

R. Michael Mohan will transition from his current role as interim CEO on 29 July to chair a new board committee focused on Petco's ongoing value creation initiatives and will work with Anderson to ensure a smooth leadership transition and continued execution of the company's objectives.

Anderson was CEO of Five Below, where he led the company's US expansion from 366 to over 1,500 stores and the launch of its e-commerce site. Prior to that, he spent three years as president and CEO of Walmart.com.