Veeva: Leadership Transition Doesn’t Alter Our Favorable Long-Term Outlook

Veeva announced on April 1 that Brent Bowman—the firm’s chief financial officer and principal financial officer, who has been serving in the position for over three years—will step down. The announcement noted that the departure was not a result of any misconduct or disagreements between Bowman and Veeva. During the search for a replacement, Tim Cabral, Veeva’s CFO from 2010 to 2020, will serve as interim CFO and PFO with Bowman remaining as an advisor to ensure a smooth transition. We believe Cabral will be an effective member during this changeover given he brings in decades of experience and knowledge, and has also served as a board member since January 2022.