Petco Health and Wellness Co., Inc. shared news Wednesday that the company's Board of Directors appointed Michael Mohan as Interim Chief Executive Officer, effective immediately.
Following this, Ron Coughlin has resigned as Petco's Chairman, CEO and Board of Directors member. However, he will continue as an advisor to the Board to assist with the leadership transition.
Presently, the Board is engaged in an extensive search for a long-term CEO, supported by a major global executive search firm.
Mohan has been part of Petco's Board of Directors since March 2021. Then in July 2021, he took on the position of Lead Independent Director. He was also a member of the Audit Committee until his recent appointment as Petco's Interim CEO. Earlier, Mohan held the position of President and Chief Operating Officer of Best Buy Co., Inc. from June 2019 to July 2021.
From 2004 up until June 2019, Mohan held a variety of leadership roles at Best Buy, where he was responsible for services, customer experience, category management, merchandising, marketing and supply chain functions. Before joining Best Buy, Mohan held the position of Vice President and General Merchandising Manager at Good Guys.
Mohan also has experience working at Future Shop in Canada from 1988 to 1997, before Best Buy acquired the company. Here, he was a part of various merchandising roles.
Following his appointment, Mohan resigned from the Board's Audit Committee and moved on from the role of Lead Independent Director. His position in the Audit Committee has been filled by current Board member Gary Biggs. Additionally, with Coughlin's exit, the size of the Board has now been reduced from 11 to 10 members.
