Chewy, Inc. (NYSE: CHWY) (“Chewyâ€) announced the appointment of David Reeder as their next incoming Chief Financial Officer (CFO).
After the retirement of long-term executive Mario Marte, Stacy Bowman stepped in as interim CFO. Upon David’s arrival, which is expected to place February 14th, 2024, Stacy Bowman will continue serving as Chewy’s Chief Accounting Officer.
Sumit Singh
“David is a highly experienced finance executive who has driven strong results across a range of complex industries,†said Sumit Singh, CEO of Chewy. “I am excited for David to join Chewy and to play an important role in driving long-term, profitable and capital efficient growth as we execute on key strategic priorities across our business.â€
David Reeder is currently the CFO of GlobalFoundries Inc. (Nasdaq: GFS), a leading semiconductor manufacturer, where he has been for almost three and a half years. He has served as CFO since 2020 and led their financial strategy, including their 2021 initial public offering. David previously served as Chief Executive Officer (CEO) of Tower Hill Insurance Group, as well as President and CEO of Lexmark International Inc. Earlier in his career, David was CFO at Electronics for Imaging, Inc., and he also held executive roles at Cisco Systems, Inc., Broadcom Inc., and Texas Instruments Inc.
According to a filing with the U.S. Securities and Exchange Commission, David Reed, age 48, will receive an annual base salary of $600,000. He will also be eligible to receive a one-time new hire equity grant with a value of $16,843,750 (subject to the Board’s approval) which will be granted in restricted stock units of Chewy.
David Reeder
“Chewy is a beloved brand and a world-class enterprise, whose sustained growth, significant margin expansion and operational excellence continue to elevate the pet category,†said David Reeder. “I am thrilled to join Chewy’s leadership team and couldn’t be more excited about the road ahead.”
David is currently a member of the board of directors of Alphawave IP Group plc. He holds a Bachelor of Science degree in Chemical Engineering from University of Arkansas and a Master of Business Administration degree from Southern Methodist University.
Since launching in, Chewy has been on a mission to be the most trusted and convenient destination for pet parents and partners everywhere. The company aims to be the preeminent online source for pet products, supplies and prescriptions. Chewy has been known for their broad selection of high-quality products and services, competitive prices, and an exceptional level of customer care and a personal touch.