- Push-out Score determined
- After almost eight years in the position
- Accolades, praise and thanks for Alaix
- Kristin Peck taking over
- Alaix said 125 words
(exechange) — Parsippany, New Jersey, October 3, 2019 — Juan Alaix, chief executive of Zoetis, leaves. As announced by Zoetis Inc. in a news release and in a regulatory filing published on Thursday, October 3, 2019, Juan Ramón Alaix leaves his post as Chief Executive Officer at the world’s largest producer of medicine and vaccinations for pets and livestock after almost eight years in the role, effective December 31, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who announced their departure over the past 12 months was 7.1 years, according to data compiled by exechange.
Juan Alaix’s duties as CEO will be taken over by Kristin C. Peck, currently Executive Vice President and Group President of U.S. Operations, Business Development and Strategy of Zoetis Inc.
It is a generational change as well. Kristin Peck is about 20 years younger than Juan Alaix.
“Lead Zoetis in the next stage of its journey”
A reason for Juan Alaix’s departure from the CEO post was not explicitly provided. Michael McCallister, Chairman of the Board of Directors of Zoetis, said: “Kristin has the passion, talent and experience necessary to lead Zoetis in the next stage of its journey.”
Precise information regarding Juan Alaix’s future plans was not immediately available.
Zoetis said: “Alaix, who has been CEO of Zoetis since its formation in 2012, has decided to retire as CEO effective December 31, 2019.”
Zoetis further said: “Ms. Peck will succeed Juan Ramón Alaix, who will retire as Chief Executive Officer of the Company effective as of December 31, 2019, but has agreed to remain with the Company to support the leadership transition by providing advice, guidance and assistance during 2020.”
Share price increase since October 2018
The announcement follows an increase in Zoetis Inc.’s share price of 33% since October 2018.
Chaired by Michael McCallister
Zoetis Inc. is chaired by Michael McCallister.
Michael McCallister has served as Non-Executive Chairman of the Zoetis Board of Directors since June 2013 and as a member of the Company’s board since January 2013.
In the position of CEO since 2012
Juan Alaix became CEO of the Company in July 2012.
He will act as an advisor on the leadership transition through December 31, 2020.
From 2006 to 2012, Alaix served as President of Pfizer Animal Health, the Company’s predecessor company, and was responsible for its overall strategic direction and financial performance.
Under his leadership, the company grew to become a $4.3 billion enterprise in 2012.
Alaix has more than 35 years’ experience in finance and management, including 20 years in the human pharmaceutical industry.
He joined Pfizer in 2003 and held various positions, including Regional President of Central/Southern Europe for Pfizer’s pharmaceutical business.
Prior to that, Alaix held various positions with Pharmacia, including as Country President of Spain, from 1998 until Pharmacia’s acquisition by Pfizer in 2003.
Earlier in his career he served in general management with Rhône-Poulenc Rorer in Spain and Belgium.
In 2013, Alaix completed a two-year term as President of the International Federation for Animal Health (“IFAH”), now known as HealthforAnimals, and he continues to serve as a member of its board and executive committee.
HealthforAnimals represents manufacturers of veterinary medicines, vaccines and other animal health products in both developed and emerging markets.
In 2018, he was awarded the Deming Cup for Operational Excellence from the Columbia Business School for his achievements as CEO of Zoetis.
A native of Spain, Alaix received a graduate degree in economics from the Universidad de Madrid.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Zoetis and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 40.2019 ($).