Zoetis Announces Appointment of Glenn David as Executive Vice President and Chief Financial Officer
August 21 2016 - 9:13PM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160821005031/en/
ZoetisMediaElinore White,
1-973-443-2835 (o)elinore.y.white@zoetis.comorBill Price,
1-973-443-2742 (o)william.price@zoetis.comorInvestorsSteve Frank, 1-973-822-7141
(o)steve.frank@zoetis.com
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