Sabrina Simmons Appointed Chief Financial
Officer
Michael Romanko Appointed Chief Customer and
Product Officer
Jack Stout Appointed Chief Merchandising
Officer
SAN
DIEGO, Feb. 18, 2025 /PRNewswire/ -- Petco Health
and Wellness Company, Inc. (Nasdaq: WOOF), today announced the
appointment of three new leaders to Petco's executive team to
support accelerated operational improvement and position the
business for a faster return to profitable growth.
- Sabrina Simmons, former Chief
Financial Officer at Gap, Inc., has been named Chief Financial
Officer, effective February 17.
- Michael Romanko, former Chief Merchandising and Marketing
Officer at Five Below, Inc., has been named Chief Customer and
Product Officer, effective February
24.
- Jack Stout, former Executive
Vice President and Chief Merchandising Officer at 7-Eleven, Inc.,
has been named Chief Merchandising Officer, effective February 24.
"Today's appointments represent a significant evolution of
Petco's leadership team that brings robust retail expertise to help
accelerate initiatives we're undertaking to strengthen our retail
fundamentals, drive profit improvement and return us to growth,"
said Joel Anderson, Chief Executive
Officer. "Sabrina, Michael and Jack are seasoned leaders with
proven track records, who will further help us unlock value for our
customers, partners and shareholders."
Reporting directly to Anderson, Simmons, Romanko and Stout will
work closely with Petco's existing leadership team to drive
continued execution against the company's 2025 objectives while
preparing the company for a return to growth. The further
strengthening of the leadership team follows the 2024 executive
hires of Glenn Murphy as Executive
Chairman, Joel Anderson as Chief
Executive Officer, Holly May as
Chief Human Resources Officer, and Joe
Venezia as Chief Revenue Officer.
Brian LaRose, formerly Chief
Financial Officer, is expected to remain with the company in an
advisory role until April 30, 2025 to
help ensure a smooth transition.
"I would like to thank Brian for all he has done for the Petco
business and our partners over his more than four years with the
company," continued Anderson.
Sabrina Simmons
Simmons is a seasoned financial leader with more than 20 years
of executive-level financial experience and had served as a member
of Petco's Board of Directors and Audit Chair since 2021. Simmons
is deeply familiar with Petco's business and will have an immediate
impact on the company's financial strategy, long-term business
planning and investor relations initiatives. In conjunction with
taking on the role of Chief Financial Officer, Simmons has
voluntarily resigned from her role as a member of Petco's Board of
Directors.
"I am honored to join Petco as Chief Financial Officer and look
forward to working closely with Joel and the broader leadership
team in creating long-term value for our shareholders," said
Simmons. "I believe deeply in the company's mission to improve the
lives of pets and pet parents and see significant opportunity to
strengthen our leadership position in the category."
Previously, Simmons served as Executive Vice President and Chief
Financial Officer of Gap, Inc. where she supported a multi-year
operational transformation and delivered significant margin
expansion and shareholder value. Simmons currently serves on the
Board of Directors of Columbia Sportswear Company as well as the
Board of Directors and Audit Committee of Coursera, Inc., and
previously served on the Board of Directors of Williams-Sonoma Inc.
and e.l.f. Beauty, Inc. She holds a bachelor's degree in business
administration from the University of
California, Berkeley and a master's degree in business
administration from the Anderson School at the University of California, Los Angeles.
Michael Romanko
Romanko is a proven retail executive with a track record for
product development, branding, sourcing and value creation, and has
held executive-level roles across the c-suite for leading consumer
brands. He will oversee marketing, customer insights, product
development, global sourcing and owned brands in his role as Chief
Customer and Product Officer.
"Petco has long been an industry leader known for making a
difference in its customers' lives," said Romanko. "I am excited
about what this new role unlocks to elevate the Petco brand,
including the opportunity to source new, unique and trendy products
while delivering a completely new experience for our
customers."
Prior to joining Petco, Romanko was the Chief Merchandising and
Marketing Officer at Five Below, Inc., a role he held for a decade.
At Five Below, Michael oversaw merchandising strategy and
operations including product development as the Company grew to
over $3.5 billion in sales from
approximately $500 million. Romanko
has more than 30 years of retail industry experience, having also
served as Chief Design Officer for Patriarch Partners, where he was
responsible for merchandise line building and sourcing and design
for 75 businesses.
Jack Stout
Stout holds more than 20 years of merchandising, planning,
category management and logistics experience in senior roles in the
consumer goods industry. Since July
2024, Jack has been serving as Petco's Interim Chief
Merchandising Officer. He will continue to lead global merchandise
planning and strategy across aspects of the business in his
official appointment.
"I am thrilled to be a part of Petco at such a pivotal time for
the company as we work to strengthen retail fundamentals and
improve our merchandising capabilities," commented Stout. "There is
so much opportunity to build on Petco's strong foundation and I
look forward to even deeper partnership with the leadership team as
we work to realize our full potential as a best-in-class
retailer."
Stout previously served as Executive Vice President and Chief
Merchandising Officer at 7‑Eleven, Inc. where he led the company's
merchandising operations, including category management, new
product introductions, new category and profit center development
and fresh food innovation. Before joining 7‑Eleven, he served as an
officer in the U.S. Air Force, achieving the rank of Captain. He
was awarded the Air Force Commendations Medal and selected as a
Professional Performer by the Inspector General. Stout graduated
from Duke University with a bachelor's
degree in mathematics. He also holds a master's degree in applied
statistics from Wright State University
and a master's degree in business administration from Duke University.
About Petco, The Health + Wellness Co.
Founded in 1965, Petco is a category-defining health and
wellness company focused on improving the lives of pets, pet
parents and our own Petco partners. We've consistently set new
standards in pet care while delivering comprehensive pet wellness
products, services and solutions, and creating communities that
deepen the pet-pet parent bond. We operate more than 1,500 pet care
centers across the U.S., Mexico
and Puerto Rico, which offer
merchandise, companion animals, grooming, training and a growing
network of on-site veterinary hospitals and mobile veterinary
clinics. Our complete pet health and wellness ecosystem is
accessible through our pet care centers and digitally at
petco.com and on the Petco app. In tandem with Petco Love, an
independent nonprofit organization, we work with and support
thousands of local animal welfare groups across the country and,
through in-store adoption events, we've helped find homes for
nearly 7 million animals.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, concerning expectations, beliefs, plans, objectives,
goals, strategies, future events or performance, leadership
transitions, continued execution against company objectives, and
underlying assumptions and other statements that are other than
statements of historical fact. Although Petco believes that the
expectations and assumptions reflected in these statements are
reasonable, there can be no assurance that these expectations will
prove to be correct. Forward-looking statements are subject to many
risks and uncertainties, including, but not limited to, our ability
to successfully manage leadership transition, execute on our
strategy and drive profitability, and the risk factors we identify
in our Securities and Exchange Commission filings, and
actual results may differ materially from the results discussed in
such forward-looking statements. Petco undertakes no duty to update
publicly any forward-looking statement that it may make, whether as
a result of new information, future events or otherwise, except as
may be required by applicable law, regulation, or other competent
legal authority.
Media Contact
Ventura Olvera
Ventura.olvera@petco.com
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SOURCE Petco Health and Wellness Company, Inc.
