(Reuters) -British retailer Pets At Home said on Monday that Chief Financial Officer Mike Iddon plans to retire, coming just weeks after the abrupt departure of its CEO and following the company's
British retailer Pets At Home's CFO Mike Iddon to retire
Leadership Changes at Pets At Home
(Reuters) -British retailer Pets At Home said on Monday that Chief Financial Officer Mike Iddon plans to retire, coming just weeks after the abrupt departure of its CEO and following the company's second profit warning this year.
Details of Mike Iddon's Retirement
Iddon will remain in the CFO role until spring 2026 and be succeeded by Sarah Pollard, the current finance chief at consumer goods firm PZ Cussons, Pets At Home said.
Impact of Economic Conditions on Retail
The second leadership change within a month at Pets At Home comes as inflationary pressures and the cost-of-living crisis in the UK prompt consumers, including pet owners, to reduce spending on discretionary items like pet treats.
Future Leadership Transition
Pets At home, which sells pet products and accessories, cut its annual profit forecast in early September for the second time this year, attributing the downgrade to a sluggish retail market. CEO Lyssa McGowan stepped down early September, after having led the company since June 2022.
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips)
