Chewy, Inc. (NYSE: CHWY) has announced that its Chief Financial Officer, David Reeder, will be departing in several months to return to the semiconductor industry as a Chief Executive Officer. The company's CEO, Sumit Singh, expressed appreciation for Reeder's contributions and leadership during his time at Chewy. Despite the upcoming transition, Chewy is reaffirming its guidance for the first quarter and stated that its long-term plan remains intact with strong business momentum.
Chewy's commitment to being the most trusted and convenient destination for pet parents and partners is reflected in its mission to offer a broad selection of high-quality pet products, supplies, and prescriptions at competitive prices. The company emphasizes delivering exceptional care and a personal touch to build brand loyalty and drive repeat purchasing. Chewy partners with approximately 3,200 trusted brands in the pet industry and offers its own private brands, totaling around 130,000 products and service offerings to provide a customer-centric experience.
The departure of David Reeder will lead to an orderly transition as Chewy undertakes a search for his successor. Reeder will remain as CFO through the next earnings announcement in June, ensuring continuity during the leadership change. The market has reacted to these announcements by moving the company's shares 3.48% to a price of $39.57. For more information, read the company's full 8-K submission here.
