Petco taps retail veteran as exec chairman as search continues for CEO

Petco Health and Wellness Company, Inc. has named a new executive chairman of its board of directors.

Glenn Murphy has filled the position for the pet supplies retailer 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. 

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 to 2014, and previously served as chairman and CEO of Shoppers Drug Mart Inc.

Murphy will play a lead role in the board of directors' ongoing search for a permanent chief executive officer at Petco. Ron Coughlin stepped down as Petco's chief executive in March, and was replaced by board member and former longtime Best Buy executive R. Michael Mohan to serve as interim CEO.

"Glenn is a proven leader and innovator with a track record of success across multiple retail sectors over the past three decades," said Cameron Breitner, member of the Petco Board of Directors. "His experience driving profitable growth through periods of transition will provide great value to Petco's leadership team and the Board of Directors during this important period for the company."

Based in San Diego, Petco operates more than 1,500 pet care centers across the U.S., Mexico and Puerto Rico.