Pets at Home (PETS) chief executive Nick Wood took the market by surprise this morning, announcing he would quit the business in order to spend more time with his London-based family.
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Ian Kellet, who had been leading the company's retail division and previously served as the group's chief financial officer, will now take on the top job from the 4 April 2016. Mr Wood will remain with the group in an advisory role to ensure a smooth transition until 1 July 2016. A fourth-quarter trading update is still scheduled for late April.