Poul Weihrauch is the new chief executive at Mars Petcare, the $45 billion empire owned by the Mars family. As the oldest of the surviving third-generation Mars family members, 87-year-old John Mars has made sure his family’s business stays ahead as the world changes.
Weihrauch, who joined the Mars empire 23 years ago from Nestle, has been tasked to continue and extend this goal, aiming to double the corporation’s global sales by 2033. He has been working to develop Mars Petcare’s services and increase the resources put towards its sustainability agenda, including redevelopment of its packaging, cutting emissions and eliminating the usage of forced labor.
Currently, the petcare sector offers Mars Petcare over $1 billion in products and services, ranging from chocolates to veterinary services and more. Weihrauch is betting on petcare’s growth due to high interest in it and a greater dedication to animal care, with most millennials preferring to sleep in the same bed with their pets rather than children. He also acknowledges that there is potential in the digital side of the petcare business, such as robots categorizing invoices and the use of AI in making better sales forecasts.
As part of its mission to generate mutual benefits for its stakeholders, Mars has made sustainable change more of a priority, with 20% of their top 300 leader’s pay being tied to progress in reducing emissions and plastics waste. Weihrauch also talks about the ability for Mars to catch diseases in animals early, something which has only been made possible due to increased research in the petcare area.
John Mars’s decision to allow Weihrauch to extend paid sick leave for vets to six weeks early in the pandemic was costlier for the Mars empire but proved crucial in its growth. The Mars family’s commitment towards animal care has not only allowed them to fit in the growing trends of millennials, but their dedication to sustainability, research and digital advancements is sure to keep the company standing in the long run.
