© Reuters.
TEANECK, New Jersey – Phibro Animal Health (NASDAQ:) 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 9 of February. 2024. Mr. David, with a 30-year tenure in various commercial and financial leadership roles, will succeed Richard Johnson, Interim Chief Financial Officer from September 29, 2023. Johnson will remain with Phibro in an advisory role to facilitate a perfect transition.
Previously, David held important positions in Zoetis Inc. (NYSE:), including executive vice president and group president for different divisions, and notably as CFO 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 positions at Pfizer Inc. (NYSE:), where he contributed to the company's global financial strategies, particularly for the U.S. Animal Health and Primary Care franchises.
Jack Bendheim, Chairman, President and CEO of Phibro, expressed his excitement about David's arrival, noting his extensive knowledge and experience in financial matters and the animal health industry. Bendheim also thanked Dick Johnson for his long-standing contributions to Phibro and his role in the transition process.
David's educational background includes a Bachelor's degree in Finance from Binghamton University and a Master of Business Administration in Finance from New York University. His experience is expected to play an important role in Phibro's strategic growth and delivering value to its shareholders.
Information about this appointment is based on a press release from Phibro Animal Health Corporation.
InvestingPro Insights
As Phibro Animal Health Corporation (NASDAQ:PAHC) welcomes Glenn C. David as 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 is a snapshot of Phibro's recent financial performance and market position:
InvestingPro Data indicates a market capitalization of $434.2 million, suggesting a modest company size in the pharmaceutical industry. The company's P/E ratio stands at 20.82, which is in line with the industry average, indicating a potentially fair valuation of its earnings. Furthermore, the trailing twelve month revenue growth as of Q1 2024 is 1.73%, showing stability in the company's top-line earnings.
Investors may also find InvestingPro's advice especially informative. Analysts have a positive outlook and predict that Phibro will be profitable this year. This, coupled with the fact that the company has been profitable over the last twelve months, can give investors confidence about the company's financial health. Additionally, Phibro's liquid assets exceed its near-term obligations, providing peace of mind about the company's ability to meet its immediate financial obligations.
For those looking for a deeper dive into Phibro's financials and future prospects, additional InvestingPro tips are available. To explore them further, consider using the coupon code “SFY24” to get an additional 10% off a 2-year subscription to InvestingPro+, or “SFY241” for an additional 10% off a 1-year subscription to InvestingPro+. These tips could provide valuable insights as Glenn C. David takes over and aims to lead the company to greater success.
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