Grant Reid, president and CEO of Mars Inc., speaks during a Bloomberg Businessweek Debrief event in New York, U.S., on Thursday, January 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 Reid in September, the company announced Wednesday. Mars said Reid informed the board of his decision 18 months ago and would stay with the company until the end of the year.
Mars, based in McLean, Va., is privately held and has a portfolio of brands that includes Snickers, Kind bars, Pedigree and Whiskas.
Weihrauch joined the company in 2000 as European brand leader for Snickers and led the Mars Food business before becoming global president of Mars Petcare in 2014, the company said.
During Reid’s tenure, the company said revenue grew more than 50% and the number of employees grew from 60,000 to more than 140,000. Mars also said Reid expanded into services veterinarians and healthier snacks.
The company said Reid plans to devote more time to his work on climate action and sustainability after his retirement.