Petsmart 2004 Annual Report Download - page 20

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Statement of Corporate Responsibility
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 website
our Corporate Governance Guidelines and related information.
• Ten of the 11 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
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