Florham Park-based Zoetis Inc., a global animal health company, announced Friday that it has appointed Paul Herendeen its new executive vice president and chief financial officer.
Herendeen has 16 years of experience in CFO roles at Warner Chilcott and MedPointe, both health care companies.
Herendeen has been transitioning into this leadership role since April. In his new role, he will oversee the company’s finance and information technology organizations. He will also be responsible for managing, planning and operating the companies’ $4.6 billion financial enterprise.
“We are very pleased to have Paul Herendeen joining our executive team,” Zoetis CEO Juan Ramón Alaix said in a statement. “Paul is an experienced and talented CFO with substantial background in the health care sector and as a public company CFO. His track record demonstrates an ability to create value and growth for companies where he has been part of the leadership team. We look forward to Paul using his expertise to enhance our global finance organization and in demonstrating and communicating our value proposition to investors.”
Herendeen will begin his role on Sept. 2, and will report to Alaix.
“I am very excited to be joining Zoetis and its leadership team at this point in its young life as a public company,” Herendeen said in a statement. “Zoetis is a company with tremendous capabilities, talented people and market leadership positions in a growing global animal health industry. I see a great opportunity to continue building on the company’s success as the world leader in animal health, bringing innovations to customers and creating value for our shareholders.”
Herendeen replaces former EVP and CFO Rick Passov, who left the company in April. Glenn David, senior vice president of finance operations, has been serving as acting CFO. David will remain at Zoetis and be a major contributor to Herendeen’s leadership team.
“We are very grateful for Glenn’s service as acting CFO,” Alaix said in a statement. “He has provided stability and valuable leadership with our colleagues and the investment community during this transition. He did a great job, initiated a number of improvements that will carry forward, and remains a valuable leader for Zoetis.”
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