Petco CEO Ron Coughlin is out, former Best Buy exec to step in as interim chief executive
Publishing timestamp: 2024-03-13 08:46:50
Summary
Petco's CEO, Ron Coughlin, is stepping down and former Best Buy executive R. Michael Mohan has been appointed as interim chief executive. Petco has been contending with a slowdown in the pet retail industry, but reported fiscal fourth-quarter results that were roughly in line with expectations. The company's shares rose after the CEO change and earnings announcements. Petco has been transforming into a health and wellness company under Coughlin's leadership, but Wall Street has grown impatient with its trajectory.
Sentiment: MIXED
Keywords: petco health and wellness company inc, best buy co inc, earnings, breaking news: earnings, breaking news: business, retail industry, business, business news,
Source: https://www.cnbc.com/2024/03/13/petco-ceo-ron-coughlin-steps-down.html