Pets at Home unveiled an unexpected top-level reshuffle on Monday, revealing that Ian Kellett will replace Nick Wood as chief executive.

Kellett has been a member of the group’s board for 10 years, joining as Pets at Home’s chief financial officer in 2006 and becoming chief executive officer of retail in June 2015.

ian kellett portrait

ian kellett portrait

Ian Kellett

During this time Kellett “steered the business through continuous growth” and played a “pivotal role” in the IPO and the expansion of veterinary services with the acquisition of Vets4Pets, according to the retailer.

In his new role the pet-passionate Kellett – who owns four dogs and two horses – will have a lot to get his claws into. Strong and steady, the group is performing well and Kellett will be eager to maintain and improve upon its position as the business enters the next “exciting stage of its development”.

While the exit of Wood, who is stepping down after four years to spend more time with his family, came as a surprise, there’s a feeling of confidence about Kellett’s ability to maintain Pets at Home’s strong market position.

Wood is leaving the group in “good shape” with trading in line with expectations ahead of its fourth quarter update on April 21, according to Liberum analyst Adam Tomlinson.

“Obviously Nick Wood’s departure is unexpected news; there may be a bit of disappointment there, but you take confidence from the fact that the remaining team are all very experienced.

“Ian has been around for a long time, knows the business inside out and has done very well as both CEO of the retail division and group CFO.”

Tomlinson adds that Kellett has been “instrumental” in the success of the business to date and has worked “very closely with Nick on the strong strategy.”

“Looking at the share prices on Monday, it seems as though the market has confidence in Ian as well,” Tomlinson concludes.

From numbers to strategy

Before joining Pets at Home as chief financial officer, Kellett was finance director of Staples’ retail business in the UK, and deputy finance director of JD Wetherspoon prior to that.

But while observers might query his shift from number crunching to strategy, former Pets at Home HR director Ryan Cheyne assures Retail Week that Kellett has “always been involved in wider areas of the business”, even before he became chief executive of retail last year.

“Ian is an excellent CFO but he has always had a view on and been involved in the broader issues that affect the business too. He’s been a constant supporter of change and everything the business has been trying to drive.”

Cheyne, who left Pets at Home last year, adds that the “great thing” about the retailer’s Home leaders – going back as far as Matt Davies – is that they are “very humble”.

“It’s not about them, it’s about the business, and Ian fits that category very well.”

Kellett has developed a love of horses since joining the business in 2006.

“They take up a lot of his time,” says Cheyne. “Pets in general are a big part of what Ian is about and this is very important for somebody in the CEO role at Pets at Home.”

One of Kellett’s key challenges as the new boss will be figuring out how to manage the balance of spending his time with his beloved horses, and running a retailer the scale of Pets at Home.

Career history

2016 Chief executive, Pets at Home

2015 Chief executive officer of Retail, Pets at Home

2006 Chief financial officer, Pets at Home

2004 Finance director, Staples

1999 Deputy finance director, JD Wetherspoon

1990 Associate director of finance, Grattan plc