== Five Below (FIVE): CEO Joel Anderson steps down to serve as CEO of Petco Health and Wellness (WOOF)

• Joel Anderson has stepped down from his roles of President and CEO, and from the Board of Directors.
• Co appoints COO Kenneth Bull as interim President and CEO.
• Thomas Vellios, Co-Founder, Non-Executive Chairman and former CEO, is assuming the role of Executive Chairman on an interim basis to support Mr. Bull and the executive leadership team in the transition while the Board conducts a comprehensive search for a permanent CEO.

 

Anderson joined Five Below as CEO in 2015. He led the company's U.S. expansion from 366 to over 1,500 stores and e-commerce site launch, optimized operations, expansion into new categories, and drove revenue growth from $500 million to more than $3.5 billion. 

Anderson previously served for three years as the president and CEO of Walmart.com, leading the business unit from 2011 to 2014. For four years before that, he was divisional senior VP of the Northern Plains division of Walmart stores.

Petco has been on the hunt for a new CEO since March, when Ron Coughlin, stepped down as chief executive, chairman and board member after a disappointing quarter. He had led Petco since June 2018.  

Upon Coughlin’s departure, board member and former longtime Best Buy executive R. Michael Mohan was tapped as interim CEO. Petco said that Mohan will transition from interim chief on July 29 to chair a new board committee focused on Petco's ongoing value creation initiatives, working with Anderson to ensure a smooth leadership transition and continued execution towards the company's objectives. 

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Petco operates more than 1,500 stores  across the U.S., Mexico and Puerto Rico, which offer merchandise, companion animals, grooming, training and a growing network of on-site veterinary hospitals and mobile veterinary clinics.