LONDON (ShareCast) - (ShareCast News) - Pets at Home Group announced on Tuesday that group chief executive officer Ian Kellett has informed the board of his desire to step away from corporate life, and pursue his own personal business interests.
The FTSE 250 firm said that, as part of its succession plan, it could announce that Peter Pritchard - currently CEO of its retail division - would succeed Kellett as group CEO when he leaves.

Kellett would remain with the business until 31 May next year, to support Pritchard and ensure a smooth transition.

"I am pleased to announce Peter's future succession as group CEO," said chairman Tony DeNunzio.

"Ian and Peter will continue to work closely together over the next six months through which there will be an orderly handover process."

DeNunzio said Pritchard had steered the retail business for a number of years, and had been responsible for the launch of some "highly successful" initiatives, adding that he was confident he would provide "strong leadership" to the group.

"I want to thank Ian for his long tenure at Pets at Home, having successfully led multiple areas of the business in his roles as chief financial officer, within retail, and as group CEO," DeNunzio added.

"On behalf of the board, I wish him well as he takes a break from corporate life to pursue his personal business interests."

Pritchard joined Pets at Home in 2011 as commercial director, and moved to the role of CEO of retail in 2015.

The board said he has worked in retail for 30 years in various senior operational roles at ASDA, Sainsbury's, Iceland, Marks and Spencer and Wilko.

At Pets at Home, Pritchard has overseen the establishment of the company's sourcing office in China, the launch of its 'VIP club', the development of its omnichannel strategy, and more recently the repositioning of its merchandise business.

"Having spent the past 12 years with Pets at Home, I feel very fortunate to have worked in such a special business with some amazing people," Ian Kellett commented.

"I am proud to have been part of transforming the group from its retail roots into the much wider services and omnichannel business it is today."

Kellett said the actions the board had taken this year to reposition retail pricing had landed well, and it had a "clearly defined plan" that would deliver further results.

"It is with this in mind that I feel able to move on and pursue my own personal business interests, which will provide me with a different type of challenge at this point in my career."

The announcement came at the same time at Pets at Home Group's half-year results, with the board talking up the company's merchandise repositioning as profits slipped.

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