Summary
Zoetis Inc. (ZTS) announced a significant change in its executive leadership, with the departure of its Chief Financial Officer, Richard A. Passov, effective at the end of April 2014. The company has assured investors that Mr. Passov's departure is unrelated to the company's financial condition or reporting. This marks a key leadership transition for the animal health company, which recently completed its IPO in early 2013. In response to the CFO vacancy, Zoetis has appointed Glenn David, previously Senior Vice President of Finance Operations, as the acting Chief Financial Officer. Mr. David brings extensive financial experience, including his tenure at Pfizer Animal Health and various roles within Pfizer and other financial institutions prior to Zoetis's spin-off. His immediate assumption of responsibilities will ensure continuity in financial management and global operations during this transition period.
Key Highlights
- 1Chief Financial Officer Richard A. Passov is departing Zoetis Inc. at the end of April 2014.
- 2The company states Mr. Passov's departure is unrelated to Zoetis's financial condition or financial reporting.
- 3Glenn David, Senior Vice President of Finance Operations, has been appointed as acting Chief Financial Officer.
- 4Mr. David's appointment is effective immediately, and he will oversee financial management and global operations.
- 5Mr. David has significant financial experience, including roles at Pfizer Animal Health and prior to Zoetis's IPO.
- 6A press release detailing these executive changes was filed as an exhibit to the 8-K.