PetSmart CEO resigns
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The chief executive of the nation's largest specialty pet retailer of services and solutions has left the building.
PetSmart announced that Michael J. Massey has stepped down from his position as CEO, president and board member. Raymond Svider, managing partner at BC Partners, will serve as executive chairman and oversee the company’s operations with the senior leadership team while the board searches for a new chief executive.
Massey joined PetSmart as CEO in 2015 after its private-equity buyout by a consortium led by BC Partners. Prior to PetSmart, he served as CEO of Collective Brands, which owned Payless Shoe Source.
Massey has played a crucial role in the company's growth, particularly online. Under his leadership, PetSmart made a number of strategic moves to strengthen its digital offerings, including most recently its acquisition of fast-growing online rival Chewy.
“Michael was instrumental in creating an efficient, customer-focused retail organization and developing the company’s growth strategy," said Svider. "This includes the recent acquisition of Chewy, making PetSmart the leading brick-and-mortar and online retailer in the industry. We respect Michael’s decision and are grateful for his many achievements while CEO of PetSmart.”
PetSmart operate more than 1,500 pet stores in the United States, Canada and Puerto Rico, as well as more than 200 in-store PetSmart PetsHotel dog and cat boarding facilities.
“It has been an honor to work in partnership with BC Partners and the incredibly talented PetSmart team," Massey said. "I am pleased that, in such a short time, we have achieved the operating goals we set out at the acquisition of PetSmart to create a highly profitable and fast growing retailer that leads both in brick-and-mortar and online, which is unique in retail. With the structural changes achieved, I believe PetSmart is well positioned for the future and will continue to be the trusted partner to pet parents and pets.”