Pets at Home CEO Lyssa McGowan has left the business with immediate effect after spending just over three years at the retail giant.
McGowan, who took on the top role in 2022, is being replaced on an interim basis by non-executive chair Ian Burke, who will serve as executive chair until a permanent successor is appointed.
She brought extensive leadership experience to the role, having spent over a decade at Sky, where she served as chief consumer officer and chief commercial officer, playing a central role in the launch of Sky Glass and Sky Mobile.
She has also held non-executive roles at Morrisons, and earlier in her career worked at McKinsey & Company as well as in telecoms at Telewest Broadband.
Trading update
The news about her departure came alongside an unscheduled trading update, with the company lowering profit expectations for FY26.
The Cheshire-headquartered firm now expects underlying pre-tax profit in the range of £90m–£100m, citing weaker-than-expected performance in its retail business.
It said its previous guidance assumed 1% market growth in pet retail, but the market has remained subdued, showing a slight decline year to date.
While retail performance has improved, progress has been slower than planned.
Fall in sales
Store sales have dropped 5% in the year to date, although digital sales are growing strongly in double digits, supported by the company’s upgraded platform and Easy Repeat subscriptions.
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The business remains on track to deliver 10 new practices, 15 extensions, and further profit progress in the current financial year, but its share price has dropped significantly in the last 12 months.
It has fallen from 302.8p to 200.6p and currently has a market cap of £915.64m. Shares have also dropped by just shy of 30p in the last three hours.
King’s Birthday Honours
Just three months ago, McGowan was recognised in the King’s Birthday Honours for her services to retail.
“It is a huge privilege to be named alongside such inspiring people,” she said at the time.
“I am incredibly proud to lead Pets (at Home) and see this as a shared honour for all our vets, nurses, groomers, retail and support colleagues who work so hard every day caring for the nation’s pets.
“It is so wonderful to receive this recognition of our efforts to create a better world for pets and the people who love them.”