Petsmart 2003 Annual Report Download - page 14

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The management of PETsMART is dedicated to ensuring
our high standards of corporate governance are
maintained, including compliance with our established
financial accounting policies and for reporting our results
with objectivity and the highest degree of integrity. The
culture at PETsMART demands integrity and we have
the highest confidence in our people and our underlying
systems of internal controls. Management fully embraces
and understands its responsibility for the integrity and
accuracy of our financial statements.
Here we share a few of the various aspects of our
corporate governance:
• Our Board of Directors has adopted and posted on
our Web site our Corporate Governance Guidelines
and related information.
• Eight of the nine members of the Board of Directors
are independent of PETsMART and our management.
• The Lead Director and all members of the board
committees—the Audit Committee, the Compensation
Committee, and the Corporate Governance
Committee—are independent.
• The independent board members regularly meet without
management present.
• The charters for these board committees clearly
establish committee member roles and responsibilities.
• PETsMART has a clear code of business ethics
and policies.
• PETsMART has complaint procedures in place for
both associates and others.
• The internal audit department of PETsMART reviews
key areas of our business and financial processes and
controls, and reports directly to the Audit Committee.
We are committed to improving stockholder value and
fully understand and embrace our oversight responsibilities.
It is a PETsMART tenet that investors and other users of
our financial statements have confidence the financial
information we provide is timely, complete, relevant, fair,
and accurate. We will continue to strive to strengthen
your confidence by our actions.
Philip L. Francis
Chairman and Chief Executive Officer
Timothy E. Kullman
Senior Vice President, Chief Financial Officer
12
Statement of Corporate Responsibility