Zoetis
Inc. (NYSE:ZTS) today announced that Glenn David, Senior Vice
President of Finance Operations, has been named Executive Vice President
and Chief Financial Officer (CFO), and will assume responsibility for
the oversight of the company’s financial management, planning and global
operations, effective immediately. As CFO, David will report directly to
Chief Executive Officer Juan Ramón Alaix and become part of the Zoetis
Executive Team. David will succeed Executive Vice President and Chief
Financial Officer Paul Herendeen, who has resigned effective August 18,
2016, to accept the position of CFO at another public company.
“Glenn has been an accomplished financial and strategic leader for
Zoetis and a trusted partner to me and the entire executive team since
our IPO,” said Chief Executive Officer Juan Ramón Alaix. “Glenn’s strong
financial acumen, deep understanding of our company’s business
operations and ability to partner with our business leaders to improve
overall company performance, make him the clear successor for this
important position. With this natural transition of executive
responsibility to such a high caliber executive, the Board and I are
confident we have ensured continued focus on delivering shareholder
value.”
“We thank Paul for his contributions to our company over the past two
years. Paul leaves Zoetis a stronger company, better positioned with
investors and set to deliver long-term, sustainable shareholder value,”
said Alaix.
Paul Herendeen said, “I have enjoyed working with the Zoetis team to
help create a world-class global finance organization and demonstrate
the company’s compelling value proposition to investors. Leaving Zoetis
is a tough decision but I look forward to my next challenge. Glenn and I
have worked side-by-side over the past two years, and I have tremendous
respect for his financial expertise and knowledge of the company and
industry. I leave knowing that with Juan Ramón, Glenn and the rest of
the Zoetis leadership team, the company is well-positioned to continue
to grow and build on its position as the world leader in animal health.”
Herendeen will remain available to Zoetis to facilitate a smooth
transition of duties.
Experienced Strategic and Financial Leader
With more than 20 years of experience in finance and operations, David
has played a key role in leading the financial operations for Zoetis
since its Initial Public Offering (IPO) in 2013. As senior vice
president of Finance Operations for Zoetis, David led a diverse global
team of finance professionals including financial planning, analysis and
support across its approximately 45 global markets; Treasury; Finance
Shared Services and Global Operations. From April 2014 through August
2014, David served as acting Chief Financial Officer of Zoetis,
overseeing financial management, reporting, shareholder relations,
global procurement and operations.
Before the Zoetis IPO, David served in various financial roles at
Pfizer, including vice president of Global Finance for Pfizer Animal
Health and vice president of Finance for the U.S. Primary Care
franchise. David also played important financial roles in Pfizer’s
integration of the Pharmacia, Wyeth and King Pharmaceuticals’
acquisitions.
Prior to joining Pfizer in 1999, David held financial positions at
Bankers Trust, Paine Webber and Credit Suisse. He graduated with a
bachelor’s degree in Finance from Binghamton University, and earned his
MBA from New York University.
About Zoetis
Zoetis (zô-EH-tis) is the leading animal health company, dedicated to
supporting its customers and their businesses. Building on more than 60
years of experience in animal health, Zoetis discovers, develops,
manufactures and markets veterinary vaccines and medicines, complemented
by diagnostic products and genetic tests and supported by a range of
services. Zoetis serves veterinarians, livestock producers and people
who raise and care for farm and companion animals with sales of its
products in more than 100 countries. In 2015, the company generated
annual revenue of $4.8 billion with approximately 9,000 employees. For
more information, visit www.zoetis.com.
Forward-Looking Statements
: This
press release contains forward-looking statements, which reflect the
current views of Zoetis with respect to business plans or prospects,
future operating or financial performance, future guidance, future
operating models, expectations regarding products, future use of cash
and dividend payments, tax rate and tax regimes, changes in the tax
regimes and laws in other jurisdictions, and other future events. These
statements are not guarantees of future performance or actions.
Forward-looking statements are subject to risks and uncertainties. If
one or more of these risks or uncertainties materialize, or if
management's underlying assumptions prove to be incorrect, actual
results may differ materially from those contemplated by a
forward-looking statement. Forward-looking statements speak only as of
the date on which they are made. Zoetis expressly disclaims any
obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. A further list
and description of risks, uncertainties and other matters can be found
in our Annual Report on Form 10-K for the fiscal year ended December 31,
2015, including in the sections thereof captioned “Forward-Looking
Information and Factors That May Affect Future Results” and “Item 1A.
Risk Factors,” in our Quarterly Reports on Form 10-Q and in our Current
Reports on Form 8-K. These filings and subsequent filings are available
online at
www.sec.gov
,
www.zoetis.com
,
or on request from Zoetis.
Zoetis
Media
Elinore White, 1-973-443-2835 (o)
elinore.y.white@zoetis.com
or
Bill Price, 1-973-443-2742 (o)
william.price@zoetis.com
or
Investors
Steve Frank, 1-973-822-7141 (o)
steve.frank@zoetis.com