Pets At Home appoints former Waitrose boss James Bailey as its new prime canine
Struggling Pets At Home has appointed former Waitrose boss James Bailey as chief executive.
He takes up the role on March 30 after leaving the well-heeled grocer in August and could earn up to £3.3million a year, including a salary of £639,770 plus bonuses.
He replaces Lyssa McGowan, who left in September as the pets retailer suffered a sales downturn and profit warnings as cash-strapped shoppers cut back on buying accessories for their pets.
Shares have dropped by more than a fifth in six months, leading interim boss Ian Burke to warn last month that ‘urgent and necessary’ measures were needed.
He had announced plans to cut costs by around £20million, including plans to axe 250 jobs.
Bailey, who has two cats, called Billy and Bandit, and two tortoises named Mango and Lushkin, said he was ‘delighted’ to be joining. He said he believed the firm ‘has a very bright future’.
Fur hire: Former Waitrose boss James Bailey will take over at Pets At Home at the end of March
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