Summary
Zoetis Inc. announced a significant leadership change, with Executive Vice President, General Counsel and Corporate Secretary, Heidi C. Chen, departing from her executive roles effective April 16, 2024. Ms. Chen will transition to an employee advisor role until July 16, 2024, and is expected to continue as a non-employee consultant thereafter. This departure marks a shift in the company's legal and corporate governance leadership. In response to Ms. Chen's departure, Roxanne Lagano, EVP, Chief Human Resources Officer and Global Operations, will assume the interim responsibilities of General Counsel and Corporate Secretary. Zoetis is actively searching for a permanent replacement, considering both internal and external candidates. Investors should note that Ms. Chen is eligible for severance benefits under the company's existing Executive Severance Plan and also qualifies for retirement-eligible benefits, as detailed in the company's recent Proxy Statement.
Key Highlights
- 1Heidi C. Chen is stepping down from her executive roles as EVP, General Counsel, Corporate Secretary, and Business Lead of Human Health Diagnostics, effective April 16, 2024.
- 2Ms. Chen will remain with Zoetis as an employee advisor until July 16, 2024, followed by a potential role as a non-employee consultant.
- 3Roxanne Lagano, EVP and Chief Human Resources Officer, will serve as interim General Counsel and Corporate Secretary.
- 4Zoetis has initiated a search for a permanent replacement for the General Counsel and Corporate Secretary position, considering both internal and external candidates.
- 5Ms. Chen is eligible for separation benefits under the Zoetis Executive Severance Plan.
- 6Ms. Chen also qualifies for certain benefits due to her retirement-eligible status.