Mars says its CEO is retiring and will likely be changed by head of pet care unit

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Grant Reid, president and chief govt 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 Photos

Mars CEO Grant Reid is retiring after greater than eight years within the function and will likely be changed by the pinnacle of the corporate’s pet care enterprise.

Poul Weihrauch, the worldwide president of Mars Petcare, will succeed Reid in September, the company said Wednesday. Mars mentioned that Reid knowledgeable the board of his determination 18 months in the past and can stay on the firm till the tip of the 12 months.

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

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

Throughout Reid’s tenure, the corporate mentioned that its income rose by greater than 50% and that the variety of staff rose from 60,000 to greater than 140,000. Mars additionally mentioned Reid expanded its companies into veterinary providers and more healthy snacks.

The corporate mentioned Reid plans to dedicate extra time to his work on local weather motion and sustainability after he retires.

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