PARSIPPANY, N.J. - Zoetis Inc . (NYSE: NYSE:ZTS), a global leader in animal health, announced today the appointment of Gavin D.K. Hattersley to its Board of Directors. Hattersley, the current President, Chief Executive Officer, and Director of Molson Coors (NYSE:TAP) Beverage Company, is expected to bring his extensive global public company leadership and board experience to the Zoetis Board, where he will serve on the Corporate Governance and Sustainability Committee.
Kristin Peck, the Chief Executive Officer of Zoetis, expressed confidence in Hattersley's appointment, noting his valuable experience as a CEO of a public company. She highlighted that his expertise would support Zoetis's ambition to be the most trusted and valued animal health company globally. Zoetis Board Chair Michael McCallister also welcomed Hattersley, anticipating his contributions to the company's leadership in animal health and innovation.
Hattersley has been at the helm of Molson Coors since September 2019 and has held various positions within the company, including CEO of its former U.S. division, MillerCoors, and Chief Financial Officer of Molson Coors' global business. His career includes significant financial management roles in international brewing and manufacturing sectors. With degrees in accounting science and a bachelor's degree from the University of South Africa, Hattersley's financial acumen and corporate development experience are poised to add value to the Zoetis Board.
Upon joining the Board, Hattersley expressed his gratitude and alignment with Zoetis's mission to lead the industry with top-tier animal care solutions and a diverse portfolio. He is eager to contribute to the company's continued success.
With the addition of Hattersley, Zoetis has increased the size of its Board from 12 to 13 members. The company, a Fortune 500 entity, has a legacy of over 70 years in animal health, with a presence in more than 100 countries and revenues of $8.5 billion in 2023.
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Zoetis Inc. (NYSE: ZTS), renowned for its commitment to animal health, has been demonstrating robust financial performance alongside its strategic board developments. With a market capitalization of $76.47 billion, the company showcases its substantial presence in the industry. Investors should note that Zoetis has been trading at a high earnings multiple, with a P/E ratio of 32.78, reflective of investor confidence and expectations of continued growth.
Notably, the company's management has shown a strong belief in its value, as indicated by aggressive share buybacks—an InvestingPro Tip that often signals leadership's confidence in the company's future. Additionally, Zoetis has consistently rewarded its shareholders, raising its dividend for 11 consecutive years, a testament to its financial health and commitment to returning value.
From an operational standpoint, Zoetis has maintained a gross profit margin of 70.06% over the last twelve months as of Q1 2023, underscoring its efficiency and the strength of its business model in generating earnings. Furthermore, with a solid return on assets of 16.02%, the company is effectively utilizing its resources to generate profits.
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