Former Waitrose MD James Bailey is set to become CEO at Pets at Home Group.
Bailey announced he was stepping down from Waitrose in August and left the upmarket retailer at the end of September after five years as MD. He will join the petcare specialist on 30 March.
Before joining Waitrose, Bailey spent over 20 years at Sainsbury’s, during which time he held a number of senior positions including buying director for grocery.
Pets at Home today also revealed details of the pay and benefits Bailey will receive in his new role. He will start with a base salary of £639,770.
Bailey will also receive a pension contribution of 6.5% of base salary, an annual bonus maximum award of 170% of base salary, and an annual award of share options equivalent to 250% of base salary. These will be dependent on shareholder approval to a revised remuneration policy which is set to be voted on at the company’s AGM in July.
Pets at Home appointed Ian Burke as executive chair in September while the company continued its search for a CEO. He will revert to non-executive chair when Bailey joins the business.
“I’m delighted to be joining Pets at Home, it’s a business I’ve admired for a long time and one I believe has a very bright future,” said Bailey. “I look forward to working with the board and to meeting and working with all of the Pets colleagues and partners.”
Burke added: “On behalf of the board, I am delighted to announce the appointment of James Bailey as CEO of Pets at Home Group. Following an extensive search process, the board believes James’ experience aligns well with the group’s ambitions for the coming years.
“His strong retail leadership skills will support the ongoing focus on improving Pets at Home’s retail business, with significant operational and commercial experience leading both stores and online operations. My board colleagues and I very much look forward to working with him.”
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