Chief executive of Pets at Home to leave after seven years

Mr Davies has been in charge of the pet food and accessories firm for seven years.

He has guided the business through two private equity takeovers.

Earlier this year, Pets at Home reported a 10.3 per cent rise in underlying earnings to £93m for the 53 weeks to March 31.

This was driven by a 10.7 per cent rise in revenues over the period to £517.8m.

Mr Davies, who said he now wants to pursue other opportunities after 11 years with the firm, will remain in charge until a successor is found.

He said: “My time at Pets at Home has been hugely rewarding and enjoyable and it has been a great pleasure to manage such a special business and work with such talented and passionate people.

“The calibre of the team leaves me in no doubt that the business will continue to go from strength to strength through its next phase of growth.”

The company, which has 295 stores and more than 5,000 staff, is owned by Kohlberg Kravis Roberts after a £950m takeover in January 2010.

Kohlberg Kravis Roberts, whose retail investments have included health and beauty group Alliance Boots and toys chain Toys’R’Us, saw off rival bids from Apax, Bain and TPG, sources close to the matter said.

Kohlberg Kravis Roberts bought Pets at Home from private equity group Bridgepoint, which bought the pet goods retailer for about £230m in 2004.

Kohlberg Kravis Roberts has said it will continue Pets at Home’s rapid growth of recent years, which has seen it expand at a strong rate.

Pets at Home is the UK’s largest pet shop.

It sells pet supplies, pet food, toys and accessories.

All of the group’s stores have an aquarium with cold water and tropical fish.

They also feature a “bunny village” where children and adults can watch guinea pigs and rabbits.

Many of its larger stores have grooming salons for pets and fully equipped veterinary surger- ies.