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Mars says CEO Grant Reid is retiring and might be changed by head of pet care unit

Grant Reid, president and chief government officer of Mars Inc., speaks throughout a Bloomberg Businessweek Debrief occasion in New York, U.S., on Thursday, Jan. 10, 2019.

Alex Flynn | Bloomberg | Getty Pictures

Mars CEO Grant Reid is retiring after greater than eight years within the position and might be changed by the top of the corporate’s pet care enterprise.

Poul Weihrauch, the worldwide president of Mars Petcare, will succeed him on the finish of September, the corporate mentioned Wednesday. Mars mentioned that Reid knowledgeable the board of his choice 18 months in the past and can stay on the sweet large till the top of the 12 months.

Mars, based mostly in McLean, Virginia, is privately held and has a portfolio of manufacturers that features Snickers, Form bars and pet meals names Pedigree and Whiskas.

Weihrauch joined the corporate in 2000 because the European model chief for Snickers and led Mars Meals enterprise earlier than changing into the worldwide president of Mars Petcare in 2014, the corporate mentioned.

Throughout Reid’s tenure, Mars mentioned income rose by greater than 50% and that the variety of workers greater than doubled from 60,000 to over 140,000. He additionally guided expansions into veterinary companies and more healthy snacks, the corporate mentioned.

Reid plans to dedicate extra time to his work on local weather motion and sustainability upon retirement, it added.

This text was initially revealed by cnbc.com. Learn the authentic article right here.

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