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Pets at Home appoints former Waitrose boss as chief executive

ALN

Pets At Home Group PLC on Tuesday said it had named former Waitrose Ltd managing director James Bailey as the new chief executive officer, as the company focuses on improving its retail business.

The Cheshire, England-based operator of 450 pet care centres and 440 veterinary practices said Bailey held the position at Waitrose for over five years, before stepping down in August.

Previously, he held senior roles at J Sainsbury PLC, including the buying director of grocery.

Pets at Home’s previous chief executive Lyssa McGowan stepped down in September, which coincided with a profit warning issued by the company.

Ian Burke was appointed executive chair until a new chief executive was named. Ian will revert to the role of non-executive chair upon Bailey’s arrival, supporting him through the transition period, the company said.

‘Following an extensive search process, the board believes James’ experience aligns well with the group’s ambitions for the coming years,’ said Burke.

‘His strong retail leadership skills will support the ongoing focus on improving Pets at Home’s retail business, with significant operational and commercial experience leading both stores and online operations.’

Pets at Home noted James Bailey’s remuneration package will consist of a base salary of £639,770, benefits and variable incentive, including an annual bonus maximum award of 170% of base salary.

James Bailey said: ‘I’m delighted to be joining Pets at Home, it’s a business I’ve admired for a long time and one I believe has a very bright future. I look forward to working with the board and to meeting and working with all of the Pets colleagues and partners.’

Shares in Pets at Home rose 1.2% to 202.20 pence on Tuesday morning in London.

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