Chewy, Inc. (NYSE: CHWY) has announced the departure of its Chief Financial Officer, David Reeder, who will be returning to the semiconductor industry as a Chief Executive Officer. Despite this change, the company has reaffirmed its guidance for the first quarter of the year.
As of the most recent update, Chewy partners with approximately 3,200 brands in the pet industry and offers around 130,000 products and services. The company aims to provide a high-quality, customer-centric experience through its websites and mobile applications.
The announcement states that David Reeder will continue as CFO through the next earnings announcement in June to assist with an orderly transition as the company undertakes a search for his successor.
The press release emphasizes the company's commitment to its long-term plan and the strength of its business momentum. Chewy's CEO, Sumit Singh, expressed gratitude for Reeder's contributions during his time at the company and wished him the best in his return to the semiconductor industry. 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.
