Michael Massey will leave his post as President and CEO of PetSmart, a position he has held since the company went private in 2015. Board member Raymond Svider, a managing partner at lead investor BC Partners, will oversee the company’s operations with the senior leadership team. The PetSmart board has initiated a search for Massey’s replacement.
Massey led the retailer through a period of strategic transformation that included the acquisition of e-Commerce pet retailer Chewy for a record $3.35 billion in April 2017. PetSmart operates more than 1,500 stores in the U.S., Canada and Puerto Rico as well as 200+ in-store PetSmart PetsHotel dog and cat boarding facilities.
“Michael was instrumental in creating an efficient, customer-focused retail organization and developing the company’s growth strategy,” said Svider in a statement. “This includes the recent acquisition of Chewy, making PetSmart the leading brick-and-mortar and online retailer in the industry.”