Grant Reid, President and CEO of Mars Inc., speaks at a Bloomberg Businessweek Debriefing event in New York, USA, 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 pet care company.
Poul Weihrauch, the global president of Mars Petcare, will succeed him in late September, the company said Wednesday. Mars said Reid informed the board of his decision 18 months ago and will remain with 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 market leader for Snickers and led Mars Food Company 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 had more than doubled from 60,000 to more than 140,000. He also oversaw expansions in veterinary services and healthy snacks, the company said.
Reid plans to spend more time on his work on climate action and sustainability in retirement, he added.