Zoetis Announces Appointment of Glenn David as Acting Chief Financial Officer
April 22 2014 - 8:30AM
Business Wire
Company Announces Current CFO Rick Passov to
Leave at End of April
Zoetis Inc. (NYSE:ZTS) today announced that Glenn David, senior
vice president of Finance Operations, has been named acting Chief
Financial Officer (CFO), and will assume responsibility for the
oversight of the company’s financial management and global
operations, effective immediately. David will succeed Executive
Vice President and Chief Financial Officer Richard (Rick) Passov,
who will be leaving the company at the end of April.
“Glenn is a tenured, well-respected leader in our organization,”
said Chief Executive Officer Juan Ramón Alaix. “His deep financial
experience and knowledge of the animal health business has been
serving Zoetis well, and I have every confidence in his ability to
steward our financial operations at this time.” With David in place
as acting CFO, reporting to Alaix, the company indicated it will
commence a search process among internal and external candidates
for the chief financial officer position.
Experienced and Knowledgeable Finance Leader
With more than 20 years of experience in finance and operations
– including roles at Pfizer, Bankers Trust, Paine Webber and Credit
Suisse – David has played a key role in leading the financial
operations for Zoetis since its Initial Public Offering (IPO),
including financial planning, analysis and support across its 70
global markets. Most recently, David has served as senior vice
president of Finance Operations for Zoetis, where he had led a team
of more than 300 finance professionals and played a critical role
in the company’s preparation and execution of its IPO in 2013.
Before the Zoetis IPO, David enjoyed a career in Finance at its
former parent company, Pfizer. He 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 integrations of the Pharmacia, Wyeth and King
Pharmaceuticals’ acquisitions.
Prior to joining Pfizer in 1999, David gained valuable financial
experience at Bankers Trust, Paine Webber and Credit Suisse. He
graduated magna cum laude with a bachelor’s degree in Finance from
Binghamton University, and earned his MBA in Finance/Information
Technology from New York University.
In speaking of Passov, Alaix said, “Rick was an important member
of the senior team at Zoetis, particularly during our launch as a
publicly held company. He helped lay the foundation for the
long-term strength and vitality of our organization and
importantly, assembled a world-class financial team that will carry
on with his departure. We expect Rick to provide transitional
support, as needed, in the coming months, and we wish him well in
his next chapter.”
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. In 2013, the
company generated annual revenue of $4.6 billion. With
approximately 9,800 employees worldwide at the beginning of 2014,
Zoetis has a local presence in approximately 70 countries,
including 28 manufacturing facilities in 11 countries. Its products
serve veterinarians, livestock producers and people who raise and
care for farm and companion animals in 120 countries. For more
information, visit www.zoetis.com.
DISCLOSURE NOTICES
Forward-Looking Statements: This
press release contains forward-looking statements with respect
to the timing of Mr. Passov’s departure,
the anticipated search process, and
the expectation that Mr. Passov will
provide transitional assistance. Each forward-looking
statement in this press release is subject to
risks and uncertainties that could cause actual results
to differ materially from those contemplated by
such forward-looking statement. Applicable risks and
uncertainties include, among others, decisions made by
Mr. Passov and the risks identified in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2013, in
the sections thereof captioned “Forward-Looking Information and
Factors That May Affect Future Results” and “Item 1A. Risk
Factors,” as well as elsewhere in our Annual Report
and 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. 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.
Internet Posting of Information: We
routinely post information that may be important to investors in
the 'Investors' section of our web site at www.zoetis.com, on our Facebook page at
http://www.facebook.com/zoetis and on Twitter @zoetis. We encourage
investors and potential investors to consult our website regularly
and to follow us on Facebook and Twitter for important information
about us.
Zoetis Inc.Media:Bill Price,
973-443-2742william.price@zoetis.comorElinore White,
973-443-2835elinore.y.white@zoetis.comorInvestor:John
O'Connor, 973-822-7088
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