TEANECK, N.J. - Phibro Animal Health (NASDAQ:PAHC) Corporation (NASDAQ:PAHC), known for its diversified animal health and nutrition products, has announced the appointment of Glenn C. David as its new Chief Financial Officer, effective Thursday, February 9, 2024. Mr. David, with a 30-year tenure in various commercial and financial leadership roles, will succeed Richard Johnson, the interim CFO since September 29, 2023. Johnson will remain at Phibro in an advisory role to facilitate a seamless transition.
Previously, David held significant positions at Zoetis Inc (NYSE:ZTS)., including Executive Vice President and Group President for different divisions, and notably as Chief Financial Officer from 2016 to 2021. During his time as CFO, he is credited with maintaining a financially disciplined approach that enhanced shareholder value. His experience also includes senior financial roles at Pfizer Inc. (NYSE:PFE), where he contributed to the company's global finance strategies, particularly for the Animal Health and U.S. Primary Care franchises.
Jack Bendheim, Phibro’s Chairman, President, and CEO, expressed enthusiasm for David's arrival, highlighting his extensive knowledge and experience in financial matters and the animal health industry. Bendheim also extended gratitude to Dick Johnson for his long-standing contribution to Phibro and his role in the transition process.
David's academic background includes a Bachelor of Science in Finance from Binghamton University and a Masters of Business Administration in Finance from New York University. His expertise is expected to play a significant role in Phibro's strategic growth and in delivering value to its shareholders.
The information regarding this appointment is based on a press release statement from Phibro Animal Health Corporation.
InvestingPro Insights
As Phibro Animal Health Corporation (NASDAQ:PAHC) welcomes Glenn C. David as the new CFO, investors may be interested in the latest financial metrics and analyst insights that could impact the company's strategic growth and shareholder value. Here's a snapshot of Phibro's recent financial performance and market position:
InvestingPro Data indicates a Market Cap of $434.2M USD, suggesting a modest company size in the pharmaceuticals industry. The company's P/E Ratio stands at 20.82, which aligns with the industry's average, indicating a potentially fair valuation of its earnings. Moreover, the Revenue Growth over the last twelve months as of Q1 2024 is at 1.73%, showing stability in the company's top-line earnings.
Investors might also find the InvestingPro Tips particularly informative. Analysts have a positive outlook, predicting that Phibro will be profitable this year. This, coupled with the fact that the company has been profitable over the last twelve months, may provide confidence to investors regarding the company's financial health. Moreover, Phibro's liquid assets exceed its short-term obligations, offering reassurance about the company's ability to meet its immediate financial liabilities.
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