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PetMed Express appoints tech veteran to board

EditorIsmeta Mujdragic
Published 05/20/2024, 09:47 AM

DELRAY BEACH, Fla. - PetMed Express Inc. (NASDAQ:PETS), a leading pet pharmacy company, announced today the appointment of Justin Mennen as a new member of its Board of Directors, effective June 3, 2024.

Mennen, a seasoned technology executive with over 25 years of experience, is set to bring his extensive background in digital strategy and e-commerce to the company, which operates the well-known online pet pharmacies PetMeds and PetCareRx.

Mennen's career has spanned various senior leadership roles, notably at Rite Aid (NYSE:US90274J5618=UBSS) Corporation where he served as the EVP Chief Digital and Technology Officer, driving advancements in technology operations and customer experience. His tenure at CompuCom Systems as the Chief Digital Officer and Chief Information Officer saw him leading the company's digital business unit and technology services organization.

Mennen has also held positions at Estée Lauder Companies and Dell Technologies (NYSE:DELL), focusing on enterprise architecture and technology innovation.

Leslie C. G. Campbell, Chairman of the Board at PetMed Express, highlighted Mennen's proven track record in technology leadership across multiple industries, including retail and digital pharmacies. Campbell expressed confidence that Mennen's vision and expertise would be invaluable in advancing the company's digital initiatives.

Sandra Campos, President and CEO of PetMed Express, emphasized Mennen's customer-centric philosophy and his strategic insight as key factors that will contribute to the company's growth, profitability, and shareholder value.

In response to his appointment, Mennen expressed his enthusiasm about joining the Board during a transformative period for the company and his commitment to leveraging his experience to innovate and expand the company's reach.

PetMed Express, founded in 1996, has established itself as a reliable source of pet medications, health services, and products, aiming to make pet care affordable and accessible.

This announcement is based on a press release statement from PetMed Express, Inc.

InvestingPro Insights

As PetMed Express Inc. (NASDAQ:PETS) welcomes Justin Mennen to its Board of Directors, the company's financial health and market performance continue to be areas of interest for investors. According to InvestingPro data, PetMed Express currently holds a market capitalization of $93.41 million. Despite facing challenges, the company has been able to maintain a strong cash position relative to its debt, signaling a degree of financial resilience.

InvestingPro Tips highlight that PetMed Express has been trading at a low revenue valuation multiple, which could indicate a potential undervaluation in the market. Additionally, the company has a history of rewarding shareholders, maintaining dividend payments for 15 consecutive years, although it is important to note that there has been a recent halt in dividend growth. For investors seeking more detailed analysis, there are 9 additional InvestingPro Tips available, which can be accessed through the product that includes a comprehensive set of financial metrics and expert insights.

Moreover, the stock price has experienced significant volatility, with a one-year total return of -67.53%, reflecting the challenges the company has faced in the market. However, analysts predict that PetMed Express will be profitable this year, which could present a turnaround opportunity. For a deeper dive into PetMed Express's financials and to see a full list of InvestingPro Tips, investors can visit https://www.investing.com/pro/PETS. To enhance your investment research, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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