Food maker and animal care services provider Mars is bracing for a major management shakeup later this year. The company’s CEO, Grant F. Reid, is stepping away from his role, which he held since 2014, and will retire in September. Poul Weihrauch, who serves as Global President at Mars Petcare unit, was picked as Reid’s successor.
Confirming the news about Reid’s retirement, the private-owned company revealed some intriguing data about its business. Mars says that it’s most proud of the fact that it brought its number of associates from 60,000 to more than 140,000, but the more eye-catching bit of info is the company’s annual sales. According to the press release, Mars has grown its sales 50 percent during the eight years Reid was in charge, and the figure is now at $45 billion annually.
The number is especially impressive when compared to some of its rivals. For example, Coca-Cola had $38.7 billion in sales on an annual basis, which represented a recovery following $33 billion in 2020. On the other hand, Hershey’s, one of Mars’ main competitors in the candy market, grew its sales by only $1.5 billion in an eight-year period.
Interestingly, Mars’ high sales numbers should not be entirely credited to its sweet products like Snickers and M&Ms. The company’s pet care services probably did most of the heavy lifting in sales in recent years. This unit saw immense growth in recent years, and half of Mars’ employees are working in this portion of the business.