Chewy CEO Sumit Singh’s Shih Tzu is named D.
Photographer: Devin Christopher for Bloomberg BusinessweekWho’s a Very Good Pandemic Business? Chewy Is. Oh, Yes It Is
This is the best year ever, if you’re a cat or a dog—or if you’re a certain online pet supply company experiencing phenomenal growth.
The usual suspects topped the list of the best-paid executives in the U.S. published by Bloomberg News in July. No. 1 was Tesla Inc.’s Elon Musk, with a 2019 payday of nearly $600 million, followed by Apple Inc.’s Tim Cook at $134 million. The top 10 also included bosses at Intel, Alphabet, and Blackstone Group.
The list did contain one surprise: At No. 5 stood one Sumit Singh, chief executive officer of Chewy Inc., an online retailer of food, toys, apparel, and medicine for pets. Singh joined Chewy in 2017, was elevated to CEO after seven months, and in 2019, his first full year on the job, earned $108.2 million in salary, bonus, and stock grants. That sum was even more remarkable given that Chewy, in nine years of existence, has yet to post a profitable quarter.