Grant Reid, president and chief executive officer of Mars Inc., speaks during a Bloomberg Businessweek Debrief event in New York, U.S., on Thursday, Jan. 10, 2019.

Alex Flynn | Bloomberg | Getty Images

Mars CEO Grant Reid is retiring after more than eight years in the role and will be replaced by the head of the company’s pet care business.

Poul Weihrauch, the global president of Mars Petcare, will succeed him at the end of September, the company said Wednesday. Mars said that Reid informed the board of his decision 18 months ago and will remain at the candy giant until the end of the year.

Mars, based in McLean, Virginia, is privately held and has a portfolio of brands that includes Snickers, Kind bars and pet food names Pedigree and Whiskas.

Weihrauch joined the company in 2000 as the European brand leader for Snickers and led Mars Food business before becoming the global president of Mars Petcare in 2014, the company said.

During Reid’s tenure, Mars said revenue rose by more than 50% and that the number of employees more than doubled from 60,000 to over 140,000. He also guided expansions into veterinary services and healthier snacks, the company said.

Reid plans to devote more time to his work on climate action and sustainability upon retirement, it added.

Post source: cnbc

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