Food giant Mars has announced that its long-serving Chief Executive Grant Reid has decided to retire. He will be succeeded by Poul Weihrauch, who is currently Global President of the group’s Petcare business, at the end of September.
Reid joined Mars in 1988 and became its CEO in 2014 after being in several leadership roles with the company. Under his leadership, the privately held group has seen its sales grow over 50% to nearly $45bn.
Reid, who informed the board about his retirement 18 months ago, will continue to represent Mars until the end of 2022.
Mars Board Chair, Frank Mars, paid tribute to Reid’s “extraordinary legacy” – highlighting his achievements such as ramping up Mars digital capabilities, building its brands, and expanding into newer territories like veterinary health, pet services and healthy snacking.
Mars added: “While he is too modest to admit it, our significant transformation and record growth as a business would not have happened without Grant’s leadership. He has visibly lived our principles and embedded purpose at the heart of our business strategy. The Mars Family are tremendously grateful for his dedication and service.”
Weihrauch joined Mars in 2000 as European brand leader for Snickers. Having led the Mars Food business, he moved to his current role in 2014 where he helped double the size of the petcare business that makes products such as Pedigree and Royal Canin.
Mars commented: “I have known Poul for 22 years, working closely with him for the last 10, and I know that he will be a wonderful leader for the next stage of our evolution.
“He is known for his inspirational and inclusive leadership style, for growing businesses and renovating brands and for his deep commitment to Associate engagement and development. Following Grant’s decision, the Board and I are grateful to be able to appoint such a strong Mars leader and are confident that Poul will both protect our legacy, while leading us into what promises to be a bright and exciting future.”
