Given the separation, which eliminates Pfizer's ownership interest in Zoetis, certain Pfizer executives have stepped down from the Board: Geno Germano, Douglas Giordano, Charles Hill and Amy Schulman. Meanwhile, Zoetis appointed two new independent directors to the board, effective as of the closing date of the exchange offer: Sanjay Khosla and Robert Scully. The board will continue to evaluate additional board candidates to identify individuals with appropriate backgrounds and experience to guide the company's strategic direction and contribute to the company's success.