Mars says CEO Grant Reid is retiring and will be replaced by head of pet care unit

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  • Mars CEO Grant Reed is retiring after more than eight years in the role.
  • Mars Petcare’s global president, Paul Weihrauch, will replace Reid in September.
  • The Mars board said Reed saw a 50% increase in sales during his tenure.

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Mars CEO Grant Reid is retiring after more than eight years in this role and will be replaced by the company’s head of the company’s pet care business.

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Mars Petcare’s global president, Paul Weihrauch, will replace Reid in September. the company said on Wednesday, Mars said Reed had informed the board of his decision 18 months in advance and would remain at the company until the end of the year.

Mars, based in McLean, Virginia, is privately held and has a portfolio of brands that include Snickers, Kind Bar, Pedigree, and Whisk.

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Weihrauch joined the company in 2000 as the European Brand Leader for Snickers and headed the Mars food business, before becoming global president of Mars Petcare in 2014.

During Reid’s tenure, the company said its revenues increased by more than 50% and the number of employees increased from 60,000 to more than 140,000. Mars also said that Reed expanded its business into veterinary services and healthy snacks.

The company said that after Reid retires, he plans to devote more time to his work on climate action and sustainability.

Credit: www.cnbc.com /

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