Veeva Systems announces board member retirement

PLEASANTON, CA – Veeva Systems Inc. (NYSE:VEEV), a leader in cloud-based software for the global life sciences industry with a market capitalization of $38 billion, announced the upcoming retirement of board member Tina Hunt. The company, which has demonstrated strong revenue growth of 16.2% over the last twelve months, disclosed in a recent SEC filing that Hunt has informed the board of her intention to retire effective immediately prior to the 2025 annual meeting of shareholders.

Ms. Hunt, who has served as a director on Veeva’s board, will not stand for re-election at the upcoming 2025 Annual Meeting. The filing did not specify the reasons for Hunt’s departure or any plans for her replacement on the board.

Veeva Systems, headquartered in Pleasanton, California, operates under the jurisdiction of Delaware with a fiscal year ending on January 31. The company’s common stock is listed on the New York Stock Exchange under the ticker symbol VEEV.

The announcement comes as part of a routine disclosure through an 8-K filing with the Securities and Exchange Commission, dated March 12, 2025. The company has not released any further statements regarding the transition or its impact on Veeva’s governance structure.

Investors and industry observers will be watching closely for any additional information that may emerge regarding this change in the company’s leadership, as well as for any indications of how Veeva will approach the election of a new director to its board.

The information in this article is based on Veeva Systems Inc.’s recent SEC filing.

In other recent news, Veeva Systems has reported strong fourth-quarter earnings, with a notable 14% year-over-year revenue increase. This growth positively influenced both margins, which stood at 43%, and earnings, which rose by 26% compared to the previous year. The company also provided guidance for fiscal year 2026 that exceeded expectations, forecasting an 11% growth in revenue and earnings per share (EPS), surpassing the consensus estimates. Citi analyst Tyler Radke maintained a Buy rating on Veeva Systems, highlighting its robust product adoption and an anticipated 11% year-over-year billing growth for FY26.

Stifel analysts also reaffirmed a Buy rating, noting the company’s strong subscription growth and a 70 basis point increase in margins. RBC Capital Markets echoed this sentiment, maintaining an Outperform rating and emphasizing Veeva’s successful execution and strategic initiatives. Meanwhile, TD Cowen raised its price target to $261, reflecting confidence in Veeva’s R&D growth and margin improvements. Truist Securities increased its price target to $217, acknowledging Veeva’s better-than-expected results and its ability to attract new customers, particularly in the Vault CRM platform. These developments reflect a positive outlook for Veeva Systems as it continues to expand its offerings and strengthen its market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.