PetMed Express, Inc. Announces Management Changes

Rhea-AI Summary

PetMed Express (NASDAQ: PETS) announced significant leadership changes as CEO Sandra Campos and CFO Robyn D'Elia have resigned from their positions. Board Chair Leslie C.G. Campbell has been appointed as Interim CEO, while Chief Accounting Officer Douglas Krulik will serve as Interim Principal Financial Officer.

The departing executives will receive 13 months of base salary continuation and accelerated vesting of certain restricted stock units as severance, along with providing consulting services for three months. The company has initiated a search for permanent CEO and CFO positions. The Board has been restructured with Justin Mennen appointed as Lead Independent Director, while Peter Batushansky and Leah Solivan will chair the Audit and Compensation committees respectively.

Positive

• Board Chair Leslie Campbell stepping in as Interim CEO ensures leadership continuity
• Departing executives will provide 3 months of consulting services to support transition
• Clear succession plan with immediate interim appointments in place

Negative

• Sudden departure of both CEO and CFO signals potential internal challenges
• Additional compensation expenses from severance packages
• Uncertainty during transition period until permanent replacements are found

DELRAY BEACH, Fla., Aug. 12, 2025 (GLOBE NEWSWIRE) -- PetMed Express, Inc. (the “Company”) dba PetMeds and parent company of PetCareRx (NASDAQ: PETS) today announced that its Chief Executive Officer, Sandra Campos, and Chief Financial Officer, Robyn D’Elia, have resigned from their positions and employment with the Company.

As part of the leadership changes, Leslie C.G. Campbell, the Chair of the Company’s Board of Directors (the “Board”), has assumed the role of Interim Chief Executive Officer, and Douglas Krulik, the Company’s Chief Accounting Officer, has assumed the role of Interim Principal Financial Officer. The Company has initiated a search for a new Chief Executive Officer and Chief Financial Officer.

In connection with their resignations from the Company, Ms. Campos and Ms. D’Elia each entered into a separation agreement with the Company on August 11, 2025 under which, in exchange for a general release and waiver of claims against the Company, they will receive severance payments in the form of continuation of their current base salary for thirteen months and the accelerated vesting of a portion of their unvested restricted stock units substantially in accordance with the severance terms of their respective employment agreements. They have also agreed to provide consulting services to the Company for a period of three months on an as-needed basis. A more detailed summary of the terms of the separation agreements is set forth in the Current Report on Form 8-K filed by the Company today with the SEC.

The Company also announced that, in connection with her resignation, Ms. Campos resigned as a member of the Board of Directors effective as of August 11, 2025, whereupon the Board reduced the number of directors on the Board to five members if and until the Board determines to appoint or nominate additional directors. Following her transition to Interim Chief Executive Officer, Ms. Campbell will remain as Chair of the Board of Directors but will resign from both the Board’s Audit Committee and the Compensation and Human Capital Committee. Justin Mennen has been appointed by the Board as its Lead Independent Director. In addition, Peter Batushansky has been appointed to Chair of the Board’s Audit Committee, and Leah Solivan has been appointed to Chair of the Board’s Compensation and Human Capital Committee.

About PetMed Express, Inc.

Founded in 1996, PetMeds is a pioneer in the direct-to-consumer pet healthcare sector. As a trusted national online pharmacy, PetMeds is licensed across all 50 states and staffed with expert pharmacists dedicated to supporting pet wellness and the veterinarians who serve them. Through its PETS family of brands, the Company offers a comprehensive range of pet health solutions - including top-brand and generic pharmaceuticals, compounded medications, and better-for-your-pet OTC supplements and nutrition. Focused on value, convenience, and care, PetMeds and PetCareRx empower pet parents to help their dogs, cats, and horses live longer, healthier lives. To learn more, visit www.PetMeds.com and www.PetCareRx.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. Words such as “may,” “could,” “expect,” “project,” “outlook,” “strategy,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “strive,” “goal,” “continue,” “likely,” “will,” “would” and other similar words and expressions are intended to signify forward-looking statements. These forward-looking statements include, without limitation, statements regarding the management and Board changes described above. Forward-looking statements are based on the Company’s current expectations and assumptions regarding future events, which are subject to risks and uncertainties. Actual results could differ materially from those anticipated due to a number of factors, including but not limited to, the completion of the ongoing previously announced investigation by the Audit Committee of the Company’s Board of Directors and other risks described from time to time in the Company’s filings with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended March 31, 2024, as well as other subsequent filings on Form 10-Q and periodic filings on Form 8-K. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Investor Contact:
ICR, LLC
John Mills
Reed Anderson
(646) 277-1260
investor@petmeds.com

FAQ

Why did PetMed Express (PETS) CEO and CFO resign in August 2025?

PetMed Express announced the resignation of CEO Sandra Campos and CFO Robyn D'Elia, with Board Chair Leslie Campbell stepping in as Interim CEO and Douglas Krulik as Interim Principal Financial Officer. The specific reasons for the resignations were not disclosed in the announcement.

What severance package will the departing PETS executives receive?

The departing executives will receive 13 months of base salary continuation and accelerated vesting of certain restricted stock units. They will also provide consulting services for 3 months on an as-needed basis.

Who is the new interim CEO of PetMed Express (PETS)?

Leslie C.G. Campbell, who was the Chair of the Board of Directors, has been appointed as Interim CEO while maintaining her position as Board Chair.

What changes were made to PetMed Express's Board structure in August 2025?

The Board was reduced to five members, with Justin Mennen appointed as Lead Independent Director. Peter Batushansky became Audit Committee Chair, and Leah Solivan was appointed as Compensation and Human Capital Committee Chair.

Is PetMed Express (PETS) searching for permanent replacements for CEO and CFO positions?

Yes, PetMed Express has initiated a search for both a new permanent Chief Executive Officer and Chief Financial Officer following the resignations.