In a press release on March 15, PetSmart announced Ryan Cohen, the co-founder and CEO of Chewy.com had decided to step down from his day-to-day role as CEO. The role will be taken over by former Amazon Fresh Worldwide Director Sumit Singh, who joined the company in August 2017 and has been the COO since November 2017. Singh will be supported by Chewy’s management team as it continues to operate largely as an independent subsidiary of PetSmart, focusing on its current business strategy.
“Ryan is an amazing leader who has built a unique and powerful ecommerce business with a strong culture that is laser-focused on serving the needs of customers and their pets. I have full confidence that this will continue under the leadership of Sumit, a seasoned ecommerce leader who is well equipped to carry Chewy’s strategy forward and grow the company,” said Raymond Svider, a managing partner at BC Partners and executive chairman of PetSmart. “We have enjoyed a great relationship with Ryan and respect his desire to step back from running the company after the relentless pace of the last seven years; he has our unwavering support and we wish him well,” Svider said.
Cohen said, “The past seven years have been a tremendous journey and a learning experience of a lifetime. In a short time, Chewy has gone from a concept to disrupting and redefining an entire industry. I feel the time is right for me to pass on the torch, so I can pursue personal goals and spend time with my family. I’m confident in Sumit and believe he will continue to carry on the vision of making Chewy the best and biggest pet retailer on the planet.”
Singh said, “We will remain focused on Chewy’s founding vision, core values, operating principles and goals. Our business momentum remains strong as we continue to scale while improving our customers’ experience and lowering our costs. We will stay focused, keep moving forward and continue with our vision of making Chewy the best pet retailer on the planet.”