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Pets at Home boss quits

Pets at Home chief Nick Wood is stepping down to spend more time with his family.
March 21, 2016

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.

IC TIP: Buy at 285p

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.