Davies steps down at Pets at Home

The owner of Pets at Home is looking for a new boss to lead the firm after chief executive Matt Davies yesterday announced he will step down next year.

Davies has been in charge of the pet food and accessories firm for seven years and has guided the business through two private equity takeovers. Earlier this year, Pets reported a 10.3 per cent rise in underlying earnings to £93 million for the 53 weeks to March.