Zoetis Inc. (NYSE: ZTS) hires Jay Saccaro as new CFO and COO
Rhea-AI Filing Summary
Zoetis Inc. has appointed James (Jay) Saccaro as Executive Vice President, Chief Financial Officer and Chief Operating Officer, effective August 17, 2026. He will serve as the company’s principal financial officer and principal accounting officer, leading global finance and overseeing Global Manufacturing and Supply.
Under an offer letter dated July 31, 2026, Mr. Saccaro will receive a $1,000,000 annual base salary, a target annual bonus equal to 100% of base salary (with his 2026 bonus paid at target and prorated), and an annual long-term incentive opportunity of $5,000,000 in performance stock units, restricted stock units, and stock options. He is eligible for the Executive Severance Plan, relocation assistance, and standard executive benefits. He will also receive a one-time make-whole RSU award of $6,250,000, vesting in three equal annual installments, and a one-time make-whole cash award of $1,250,000 subject to repayment if his employment ends under certain circumstances within his first year.
Current CFO Wetteny Joseph will transition from Executive Vice President and Chief Financial Officer after August 16, 2026 to a non-officer role and will serve as a Special Advisor to the CEO on financial matters until early 2027. Until the earlier of February 28, 2027 or a mutually agreed termination date, he will continue his current salary, benefits, and equity vesting and remain eligible for a 2026 annual incentive award. Upon his termination date, he will receive separation benefits under Section 3.1 of the Executive Severance Plan, with equity treated as upon a “Restructuring Event.” The company states that his departure is not due to any disagreement on operations, policies, practices, accounting, or controls.
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8-K Event Classification
Key Figures
Key Terms
Executive Severance Plan financial
performance stock units financial
restricted stock units financial
make-whole award financial
Restructuring Event regulatory
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FAQ
What executive leadership change did Zoetis (ZTS) announce on August 6, 2026?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of James Saccaro as Executive Vice President, Chief Financial Officer and Chief Operating Officer
On August 6, 2026, Zoetis Inc. (the “Company”) announced that James Saccaro has been appointed as Executive Vice President, Chief Financial Officer and Chief Operating Officer, effective August 17, 2026. Mr. Saccaro will lead Zoetis’ global finance function, shaping capital allocation, financial strategy, reporting and controls, and investor engagement and oversee Global Manufacturing and Supply to drive operational execution and performance. He will serve as the principal financial officer and principal accounting officer of the Company.
Mr. Saccaro, age 53, has served as Vice President and Chief Financial Officer of GE HealthCare Technologies Inc. since June 2023. He previously served as Executive Vice President and Chief Financial Officer of Baxter International Inc. from July 2015 to May 2023. Mr. Saccaro received a bachelor’s degree in economics and master’s degree in engineering-economic systems from Stanford University.
In connection with Mr. Saccaro’s appointment, on July 31, 2026, the Company entered into an offer letter with Mr. Saccaro (the “Offer Letter”) setting forth the terms of his appointment. The Offer Letter provides for (a) an annual base salary of $1,000,000, (b) an annual target incentive opportunity under the Company’s Annual Incentive Plan of 100% of his base salary, with his bonus for 2026 to be paid at target and pro-rated for the length of service with the Company in 2026, (c) an annual target long-term incentive opportunity of $5,000,000 (which would currently comprise performance stock units (50%), restricted stock units (25%), and stock options (25%)), (d) eligibility to participate in the Company’s Executive Severance Plan and (e) eligibility to receive relocation assistance and to participate in the Company’s benefits plans and programs as applicable to other similarly situated senior executives. Mr. Saccaro will also receive a one-time make-whole award of restricted stock units with a grant date value of $6,250,000, which will vest ratably in thirds on the first three anniversaries of the grant date, and a one-time make-whole cash award of $1,250,000, which will be subject to repayment to the Company in the event Mr. Saccaro’s employment is terminated under certain circumstances within the first year of employment.
Other than the Offer Letter, there are no arrangements or understandings between Mr. Saccaro and any other persons pursuant to which he was appointed as the Company’s Executive Vice President, Chief Financial Officer and Chief Operating Officer. There is no family relationship between Mr. Saccaro and any director, executive officer, or person nominated or chosen by the Company to become a director or executive officer of the Company. The Company has not entered into any transactions with Mr. Saccaro that would require disclosure pursuant to Item 404(a) of Regulation S-K under the Exchange Act.
A copy of the press release announcing Mr. Saccaro’s appointment as Executive Vice President, Chief Financial Officer and Chief Operating Officer is attached to this Current Report as Exhibit 99.1.
Departure of Wetteny Joseph, Executive Vice President and Chief Financial Officer
On July 31, 2026, the Company entered into a letter agreement (the “Letter Agreement”) with Wetteny Joseph setting forth the terms of his departure from the Company. Mr. Joseph’s departure was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices, including any matters relating to its accounting principles or practices, financial statement disclosure, or internal controls.
Pursuant to the Letter Agreement, after August 16, 2026, or such later date as may be determined by the Company (the “Transition Date”), Mr. Joseph will transition from his role as Executive Vice President and Chief Financial Officer to remain employed by the Company as a non-executive officer of the Company through the earlier of February 28, 2027 and a mutually agreed termination date (the “Termination Date”). Following the Transition Date and until the Termination Date, Mr. Joseph has agreed to assist in the proper transition of his duties and responsibilities and provide advisory services to the Company.
Until the Termination Date, Mr. Joseph will continue to receive his current rate of annual base salary, participate in the Company’s employee benefit plans and continue to vest in his outstanding equity awards. For calendar year 2026, he will be eligible to receive an annual incentive award based on his annual incentive target currently in effect and subject to Company performance-based funding. Upon his termination of employment on the Termination Date, Mr. Joseph will be eligible for separation benefits pursuant to Section 3.1 of the Company’s Executive Severance Plan and he will be entitled to benefits thereunder in accordance with the terms and conditions of the plan. His outstanding equity awards will be treated as though his termination of employment occurred pursuant to a “Restructuring Event” under the terms of the applicable award agreements.
The foregoing descriptions of the terms and conditions of the Offer Letter with Mr. Saccaro and the Letter Agreement with Mr. Joseph do not purport to be complete and are qualified in their entirety by reference to the Offer Letter and the Letter Agreement, which are filed as Exhibits 10.1 and 10.2 hereto and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed as part of this report:
| Exhibit |
Description | |
| 10.1 | Offer Letter, dated as of July 31, 2026, by and between James Saccaro and Zoetis Inc. | |
| 10.2 | Letter Agreement, dated as of July 31, 2026, by and between Wetteny Joseph and Zoetis Inc. | |
| 99.1 | Press Release of Zoetis Inc., dated August 6, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ZOETIS INC. | ||||||
| Dated: August 6, 2026 | By: | /s/ Roxanne Lagano | ||||
| Roxanne Lagano | ||||||
| Executive Vice President, | ||||||
| General Counsel and Corporate Secretary | ||||||
Exhibit 99.1
| Media Contacts: | Investor Contacts: | |
| Jennifer Albano | Steve Frank | |
| 1-862-399-0810 (o) | 1-973-822-7141 (o) | |
| jennifer.albano@zoetis.com | steve.frank@zoetis.com | |
| Laura Panza | Nick Soonthornchai | |
| 1-973-975-5176 (o) | 1-973-443-2792 (o) | |
| laura.panza@zoetis.com | nick.soonthornchai@zoetis.com | |
Zoetis Appoints Jay Saccaro as Chief Financial Officer and Chief Operating Officer
Saccaro’s Appointment is Effective August 17, 2026; Wetteny Joseph to Serve as a Special Advisor to the CEO on Financial Matters Until Early 2027
PARSIPPANY, N.J. – August 6, 2026 – Zoetis Inc. (NYSE: ZTS) today announced the appointment of James (Jay) Saccaro as Executive Vice President, Chief Financial Officer and Chief Operating Officer, effective August 17, 2026. In this newly created role, Mr. Saccaro will lead Zoetis’ global finance function, shaping capital allocation, financial strategy, reporting and controls, and investor engagement and oversee Global Manufacturing and Supply to drive operational execution and performance. With Mr. Saccaro’s appointment, Wetteny Joseph will transition to an advisory role effective August 17, 2026. Mr. Joseph has agreed to remain with the company as a Special Advisor to the CEO on financial matters until early 2027 to facilitate a smooth transition.
Mr. Saccaro joins Zoetis with extensive executive leadership experience at large-scale life sciences companies. He most recently served as Vice President and CFO at GE HealthCare, where he led key initiatives for the newly established public company, including designing processes and approaches across finance, accounting, new product planning, R&D prioritization, and capital allocation, and overseeing the Information Technology function. Previously, Mr. Saccaro spent over two decades at Baxter International Inc., where he held positions of increasing responsibility, culminating in his role as Executive Vice President and CFO for eight years. In that role, he oversaw all aspects of the company’s finance and
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information technology functions and led a number of high-impact enterprise initiatives, including a margin and cash flow improvement plan following the company’s successful spin-off of Baxalta. Mr. Saccaro led business development for Baxter’s $5 billion Medication Delivery unit and played a key role in major M&A.
“We are excited to welcome Jay to Zoetis as we prepare for our next wave of innovation-driven growth,” said Kristin Peck, Chief Executive Officer of Zoetis. “Jay brings a unique combination of skills to this newly created leadership position. He is a seasoned finance executive with 12 years of CFO experience at some of the world’s leading healthcare companies and has proven expertise in successfully developing and executing company-wide strategic initiatives. Jay’s track record of designing financial frameworks that balance R&D investment with operational rigor and efficiency will be a significant asset as we sharpen our competitive edge and invest in our future growth platforms. In this expanded role, Jay will also continue to strengthen our global manufacturing and supply operations, enhancing supply chain and distribution performance, and driving greater operational excellence and agility. I look forward to partnering with Jay to build on our industry leadership and deliver sustainable growth and long-term value for shareholders.”
“I am thrilled to join the world’s leading animal health company,” said Mr. Saccaro. “From the company’s deep innovation pipeline to its products that have built and defined categories in the industry, Zoetis is an exceptional business grounded in a deep commitment to setting new standards for the future of animal care. There is tremendous runway to build on that legacy, and alongside Kristin, the leadership team and Zoetis’ talented colleagues, I’m eager to help unlock the opportunities ahead and drive sustainable value creation.
Ms. Peck added, “On behalf of the Board of Directors and the entire Zoetis team, I thank Wetteny for his strong leadership, partnership, and many important contributions since joining the company five years ago. During his time with Zoetis, Wetteny has helped guide the company through a period of significant investment, change, and growth. We are grateful for his support through this transition and wish him all the best in his next chapter.”
“I am honored to have served as CFO of Zoetis and proud of our team’s accomplishments during my time with the company,” said Mr. Joseph. “I remain confident in Zoetis’ strategy, people and long-term opportunities. Zoetis remains strongly positioned to continue innovating and leading the animal health industry, and I look forward to watching its success for years to come.”
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About Jay Saccaro
James (Jay) Saccaro is an accomplished executive with extensive leadership experience across global healthcare and life sciences organizations. He joins Zoetis from GE HealthCare, where he served as Vice President and Chief Financial Officer since 2023, leading the company’s finance, information technology, strategy and business development functions. Prior to GE HealthCare, Mr. Saccaro served as Executive Vice President and CFO at Baxter International Inc. from 2015 to 2023, where he played a key role in leading the company’s post-spin transformation, margin improvement initiatives and capital structure optimization. Prior to rejoining Baxter, Mr. Saccaro was Senior Vice President and CFO at Hill-Rom Corporation. He had previously served as the Corporate Vice President and Treasurer of Baxter from 2011 to 2013. Mr. Saccaro originally joined Baxter in 2002 as manager of strategy for the BioScience business, and over the years assumed positions of increasing responsibility, including vice president of financial planning and vice president of finance for the company’s operations in Europe, Middle East and Africa. He began his career in strategic planning at The Walt Disney Company.
Mr. Saccaro received a bachelor’s degree in economics and master’s degree in engineering-economic systems from Stanford University.
About Zoetis
Zoetis is the world’s leading animal health company, driven by a singular purpose: to nurture our world and humankind by advancing care for animals. With a legacy of nearly 75 years, Zoetis continues to pioneer ways to predict, prevent, detect, and treat animal illness, supporting veterinarians, livestock producers, and pet owners in over 100 countries. We integrate deep scientific expertise, data-driven R&D, advanced manufacturing, and commercial excellence to deliver meaningful innovation across medicines, vaccines, diagnostics, biopharmaceuticals, and digital solutions. Guided by our vision to be the most trusted and valued animal health company, Zoetis is committed to setting new standards for the future of animal care through innovation, customer obsession, and purpose-driven colleagues. To learn more, visit Zoetis.com.
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DISCLOSURE NOTICES
Forward-Looking Statements: This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to business plans or prospects and other future events. These statements are not guarantees of future performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management’s underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our most recent Annual Report on Form 10-K, including in the sections thereof captioned “Forward-Looking Statements and Factors That May Affect Future Results” and “Item 1A. Risk Factors,” in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com, or on request from Zoetis.
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