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Wednesday, March 11, 2015

BC Partners names Michael Massey PetSmart CEO, (NMS: PETM)

BC Partners, which led the takeover of PetSmart Inc, appointed Michael Massey as chief executive of the pet supply retailer.Massey, previously CEO of Collective Brands Inc, will replace David Lenhardt, effective immediately.Lenhardt will step down with an exit package of about $24 million, the Wall Street Journal, which first reported the appointment, said. ( joined the company in 2000 and was named chief executive in 2013.

PetSmart, Inc. (PetSmart) provides of pet products and services in North America. Shares of PETM traded higher by 0.04% or $0.03/share to $82.98. In the past year, the shares have traded as low as $55.00 and as high as $83.49. On average, 1938440 shares of PETM exchange hands on a given day and today's volume is recorded at 37134.