Dog subscription service, BARK, has revealed that its co-founder and executive chairman, Matt Meeker, is reclaiming his position as chief executive officer, effective immediately.
“I am eager to resume the role of Chief Executive Officer and build on the momentum that Manish and the talented team at BARK have achieved,” Meeker said.
“I believe that the next few years will be transformative for BARK as we leverage our scale and brand to grow our footprint in areas like food and health-initiatives that I am passionate about personally.”
Meeker will replace incumbent CEO, Manish Joneja, who was appointed to the role in September 2020. Joneja informed the board of directors that he is stepping down to remain closer to his family in Seattle. However, to ensure a smooth transition, Joneja will serve as an advisor to the company through April 2022.
Before Joneja’s appointment, Meeker served as the CEO of BARK for nine years.
Joneja’s departure comes at a time when BARK is continuing to perform well. The company’s preliminary Q3 2022 results revealed a total revenue of $140 million, a 33.1% percent increase compared to the same period last year. The company’s revenue was higher than its previous guidance of $137 million to $139 million.
Through the first three quarters of fiscal 2022, BARK’s top-line has increased approximately 41.8% to $377.8 million, compared to the same period in fiscal 2021.
BARK will report its full fiscal third-quarter 2022 results in February 2022.