March 15, 2018
Co-Founder and Chief Executive Officer Ryan Cohen to Step Down Sumit Singh, Chief Operating Officer to Serve as CEO
Phoenix, AZ – March 15, 2018 – PetSmart, Inc. (“PetSmart”) today announced that Ryan Cohen, the co-founder and chief executive officer of Chewy.com has decided to step down from his day-to-day role as CEO.
Chewy.com (“Chewy”) will be led by Sumit Singh, current chief operating officer of Chewy, who joined the company in August 2017 from his role as Director of Amazon Fresh Worldwide. Mr. Singh will be supported by Chewy’s strong management team as the company continues to operate largely as an independent subsidiary of PetSmart, focusing on its current business strategy.
“Ryan is an amazing leader who has built a unique and powerful ecommerce business with a strong culture that is laser-focused on serving the needs of customers and their pets. I have full confidence that this will continue under the leadership of Sumit, a seasoned ecommerce leader who is well equipped to carry Chewy’s strategy forward and grow the company,” said Raymond Svider, a managing partner at BC Partners and executive chairman of PetSmart. “We have enjoyed a great relationship with Ryan and respect his desire to step back from running the company after the relentless pace of the last seven years; he has our unwavering support and we wish him well.”
Ryan Cohen commented, “The past 7 years have been a tremendous journey and the learning experience of a lifetime. In a short time span, Chewy has gone from a concept to disrupting and redefining an entire industry. I feel the time is right for me to pass on the torch so I can pursue personal goals and spend time with my family. I’m confident in Sumit and believe he will continue to carry on the vision of making Chewy the best and biggest pet retailer on the planet.”
Said Sumit Singh, new CEO of Chewy, “We will remain focused on Chewy’s founding vision, core values, operating principles and goals. Our business momentum remains strong as we continue to scale while improving our customers’ experience and lowering our costs. We will stay focused, keep moving forward and continue with our vision of making Chewy the best pet retailer on the planet.”
Mr. Singh has served as the chief operating officer of Chewy.com since November 2017. Prior to Chewy, Mr. Singh served as the Director of Amazon Fresh. Previously, Mr. Singh worked for Dell, Inc. He received his M.B.A. from the University of Chicago, Booth School of Business and an M.S. in Operations and Logistics from the University of Texas at Austin.
PetSmart, Inc. is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. At PetSmart, we love pets, and we believe pets make us better people. Every day with every connection, PetSmart’s passionate associates help bring pet parents closer to their pets so they, together, can live more fulfilled lives. This vision impacts everything we do for our customers, the way we support our associates and how we give back to our communities. We employ approximately 55,000 associates, operate more than 1,600 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. PetSmart provides a broad range of competitively priced pet food and products, as well as pet-focused services such as dog training, pet grooming, pet boarding, PetSmart™ Doggie Day Camp™ and pet adoption. PetSmart, together with nonprofit partners, PetSmart Charities® and PetSmart Charities® of Canada, invite more than 3,500 animal welfare organizations to bring adoptable pets into stores so they have the best chance possible of finding a forever home. Through this in-store adoption program and other signature events, PetSmart has facilitated more than 7.9 million adoptions – more than any other brick-and-mortar organization. The company’s portfolio of digital resources for pet parents includes PetSmart.com, petMD.com, the PetSmart mobile app, ReptilesMagazine.com and BlogPaws, the world’s first pet blogger and influencer network. Through these digital platforms, PetSmart offers the most comprehensive online pet supplies and pet care information in the U.S.
In May 2017, PetSmart acquired Chewy.com, a leading online retailer of pet food and products in the U.S., which operates as an independent subsidiary.
Chewy is a leading online retailer of pet food and products in the United States. Founded in 2011 by entrepreneurs Ryan Cohen and Michael Day, Chewy set out to offer pet parents the expertise and service of a local pet store with the convenience of online shopping. Chewy delivers on that promise with its dedication to 24/7 customer service, creation of cutting-edge software and technology to enhance the user experience, and commitment to sourcing high quality products. Headquartered in Dania Beach, Florida, Chewy currently employs more than 5,000 pet lovers in their home office, Boston office and fulfillment centers across the United States. For more information, visit www.chewy.com.
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