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Treasury Strategy & Transformation
Published  5 MIN READ

Dividing the Business, Consolidating the Value

Dividing the Business, Consolidating the Value

An 'Open Stage' session by Michel Verholen, Director, Global Treasury Centre, Zoetis

In addition to the formal plenary sessions and workshops, the Cash Management University launched its ‘open stage’ in 2016 in which participants could present, engage with, and debate the issues that they were dealing with in their organisations. One of these open stage sessions featured Michel Verholen, Director of Zoetis’ Global Treasury Centre, who described how treasury had supported and reinvented itself as a result of the company’s spin-off from Pfizer. Vincent Roskam, Key accounts manager for cash management in EMEA for BNP Paribas also added his comments.

Michel Verholen
Pictured: Michel Verholen (centre)

Pfizer’s animal health business developed substantially during the sixty years from the 1950s, when the corporation first entered this sector, through to 2012 when the decision was made to spin off the business into a separate company, Zoetis. Throughout its history, both as part of Pfizer and as an independent corporation, Zoetis has been characterised by its innovative approach to research, acquisition and international growth, developing the medicines, vaccines and diagnostics that keep both livestock and companion animals safe and well across more than 100 countries. Today, we generate $4.8bn in annual revenue through more than 300 products for eight animal species, and employ a workforce of more than 9,000 globally.