PetSmart Names Non-Executive Chairman of the Board

There are a lot of moving parts for PetSmart (UNKNOWN: PETM.DL  ) going into its annual shareholder meeting on Friday.

The pet food and supplies leader announced yesterday it has named a new non-executive chairman of the board, Gregory P. Josefowicz, who will assume the role following the meeting. Exiting Chairman and CEO Bob Moran will not stand for reelection as a director, and company President and COO David Lenhardt will fill the role of CEO. Executive Vice President Joseph O'Leary will become president and COO. In May, the company named Carrie Teffner as its new chief financial officer.

Josefowicz was quoted in yesterday's press release as saying: "On behalf of the board, we appreciate Bob's service and contributions over the past 14 years. Both the board and Bob agree that now is the right time for Bob to step down from the board and to move forward with the company's next phase of growth and development."

Josefowicz has been a director of PetSmart since December 2004 and has served as the company's lead director since 2006. Previously, he was president and CEO of now-defunct Borders Group and had been the company's board chairman. Today he serves on the boards of Roundy's and United States Cellular, and he's also served on the boards of Telephone and Data Systems and Winn-Dixie.

PetSmart also announced it is reducing its board from 11 to nine members.

Headquartered in Phoenix, PetSmart operates more than 1,289 pet stores in the United States, Canada, and Puerto Rico, and generated $6.8 billion in revenues over the 12 months ending May 5.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2485880, ~/Articles/ArticleHandler.aspx, 9/25/2016 8:32:19 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

12/31/1969 7:00 PM
PETM.DL $0.00 Down +0.00 +0.00%
PetSmart CAPS Rating: *****
RNDY.DL $0.00 Down +0.00 +0.00%
TDS $27.24 Down -0.35 -1.27%
Telephone and Data… CAPS Rating: *****
USM $36.49 Down -0.42 -1.14%
United States Cell… CAPS Rating: No stars