Zoetis Inc. ZTS, the world's leading animal health company, today
announced that its Board of Directors has appointed William F. Doyle, a
Member of Pershing Square Capital Management's Investment Team, to the
company's Board of Directors, effective February 3. With the addition of Mr.
Doyle, the Zoetis Board will expand to 10 directors. Zoetis and Pershing
Square reached an agreement providing for Mr. Doyle's election as well as
the election in the future of an additional independent director mutually
acceptable to Zoetis and Pershing Square.
"We welcome Bill to the Zoetis Board," said Zoetis Chief Executive Officer
Juan Ramón Alaix. "He brings significant expertise and relevant
industry and operational experience to Zoetis and I am confident he will
provide valuable insight and perspectives as we continue to enhance our
position as the world leader in animal health."
"As the industry leader in the animal health market, Zoetis is an
exceptional company with a diverse product portfolio and great long-term
value creation potential," said William F. Doyle. "I look forward to working
constructively with Juan Ramón, Zoetis management and the Board to
deliver value for all shareholders over the long-term."
Mr. Doyle has more than 20 years of experience in the healthcare industry.
He is an Investment Team member at Pershing Square Capital Management, L.P.
He is also the Co-Founder and Managing Partner at WFD Ventures LLC, which
has provided equity financing and industry expertise to medical device,
pharmaceutical and healthcare technology companies since 2003. From 1995 to
1999, he served as an executive at Johnson & Johnson. Previously, Mr. Doyle
worked as a consultant with McKinsey & Company in its global healthcare
practice.
Mr. Doyle will serve on the Corporate Governance Committee.
Pursuant to the agreement with Zoetis, Pershing Square and Sachem Head have
agreed to certain customary standstill provisions.
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