Animals in the house lure women to hit the board target

Britain’s largest pet retailer is to appoint two new women directors to meet growing demand for more diverse meeting rooms as it prepares for a £1.5 billion stock market listing.

Sky News has learned that Pets At Home is set to employ Tessa Green, a trustee of the Duke and Duchess of Cambridge’s charitable foundation (SES: E1:J91U.SI – news) and Amy Stirling, a former employee of Carphone Warehouse (LSE: CPW.L – news) executive, as non-executive directors.

These appointments will mean that Pets At Home’s board of around six directors will include two women when it goes public later this year, exceeding the target for listed companies of 25% women next year.

Halfords chairman Dennis Millard will also be appointed to the Pets At Home board, sources said on Monday.

The pet retailer is currently owned by Kohlberg Kravis Roberts (KKR (Frankfurt: A1C10P – news)), a private equity firm that is expected to announce an IPO in the coming weeks.

Millard is likely already familiar with the Pets At Home business, having hired Matt Davies, the chain’s then chief executive, in 2012 to run Halfords.

In addition to her role at the Duke and Duchess of Cambridge’s foundation, Ms Green is also a trustee of the Royal Botanic Gardens, Kew, and former chair of the Royal Marsden NHS Foundation Trust.

Her corporate career included serving as head of corporate affairs at Carlton Communications, a position also held by Prime Minister David Cameron.

KKR, along with Goldman Sachs (NYSE: GS-PB – news), Bank of America Merrill Lynch and Nomura, has assigned its internal capital markets division to oversee the listing of Pets At Home.

The network’s debut on the public market will come four years after it was acquired by KKR for £955 million.

In its latest set of full-year results, released in August, Pets at Home reported growth in sales and profits, underscoring its status as one of the success leaders during a period of economic instability.

In the year to March, profits breached the £100m mark for the first time, although Nick Wood, a former Dixons executive who now runs Pets at Home, expressed caution about the prospects.

“Market conditions remain challenging and the disposable incomes of many of our clients are under pressure,” he said.

“Against this backdrop, we remain committed to delivering fantastic value and exceptional service to our customers through new stores and retail formats, new product innovations and the commitment and expertise of truly dedicated colleagues across the company.”

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