Mars long-time CEO Reid to retire, petcare unit head to succeed
Reuters
Published Jun 22, 2022 08:41AM ET
(Reuters) - Mars Inc said on Wednesday long-time Chief Executive Officer Grant Reid has decided to retire and will be succeeded by the privately held chocolate company's Petcare head Poul Weihrauch by end of September.
The M&M's maker said Reid, who informed the board about his retirement 18 months ago, will continue to represent Mars until the end of 2022.
Reid joined Mars in 1988 and became its CEO in 2014 after being in several leadership roles with the company. Under his leadership, Mars' sales grew over 50% to nearly $45 billion.
Weihrauch joined Mars in 2000 as European brand leader for Snickers and in 2014 became the president of Global Petcare helping double the petcare business that houses Pedigree and Royal Canin pet food products.
(Corrects division's name in paragraph 4)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.