Zoetis Announces Appointment of Glenn David as Executive Vice President and Chief Financial Officer
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
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