PetMeds Names Jeff Willard CEO; Campbell Retires, Mennen Becomes Chair
PETS is trading near its 52-week low of $1.57 (4.5% above the low) on light trading volume (0.1× avg).
Summary
PetMed Express appointed Jeff Willard as CEO and President effective September 28, 2026, succeeding Interim CEO Leslie Campbell, who is retiring from the board. Justin Mennen becomes independent Board Chair.
Key Events · Executive and Board Changes · PETS
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New CEO Appointed
Jeffrey Allen Willard, 56, named CEO and President effective September 28, 2026. He previously served as CEO of Stewart MacDonald (StewMac) and held senior roles at Casper Sleep and Healthy Lifestyle Brands.
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Compensation Package
Willard receives $550,000 base salary, $120,000 signing bonus, $50,000 relocation allowance, target bonus of 75% of salary, plus 250,000 restricted shares and 250,000 performance stock units vesting over three years.
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Board Leadership Transition
Leslie C.G. Campbell resigns from the Board and as Interim CEO effective September 28, 2026, citing retirement plans. Justin Mennen, currently Lead Independent Director, becomes independent Board Chair.
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Change-of-Control Provisions
If a change of control occurs before Willard's 24-month anniversary, he receives a $1.5 million cash bonus only if per-share consideration is at least $4.00 — above SilverCape's current $3.00 offer.
Analysis · PETS · Trade & Services
PetMed Express ends a 13-month interim CEO period by hiring e-commerce veteran Jeff Willard, effective September 28, 2026. The appointment comes as the company trades near its 52-week low of $1.57, with revenue down 19.9% year-over-year and only $13.1 million in cash as of the last quarter. Willard's compensation package includes 250,000 restricted shares and 250,000 performance stock units — meaningful equity grants for a company with a market cap around $35 million. The board transition also removes Leslie Campbell, who had served as both Chair and Interim CEO since August 2025, and elevates Justin Mennen to independent Chair. This is a pivotal leadership reset for a company under activist pressure from SilverCape, which has offered $3.00 per share to acquire the company.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 29% of the 1653 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.58%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PETS was trading at $1.64 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $34.7M. The 52-week trading range was $1.57 to $4.10. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.