Corporate News Blog – Eli Lilly Declares New Appointments for Senior Leadership in Finance, Research & Development, and Manufacturing

LONDON, UK / ACCESSWIRE / October 2, 2017 / Pro-Trader Daily looks at the latest corporate events and news making the headlines for Eli Lilly and Co. (NYSE: LLY) (“Lilly”), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=LLY. The Company announced on September 29, 2017, numerous leadership changes including promotion of experienced leaders to executive roles and retirement of two senior executives. The new appointments would be effective in 2018. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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New Appointments

Josh Smiley got promoted to the role of Senior Vice President and Chief Financial Officer. He would also become a member of Lilly’s executive committee. This change would be effective from January 01, 2018. In June 2017, the Company had announced that Derica Rice, Lilly’s current CFO would retire by the end of the year.

Dan Skovronsky, M.D., Ph.D., has also been promoted. He would now serve as the Senior Vice President for science and technology and President of Lilly Research Labs. He will also become a member of Lilly’s executive committee. This change would be effective from June 01, 2018.

Myles O’Neill has also been promoted to Senior Vice President and President of manufacturing operations and will become a member of Lilly’s executive committee. His appointment would be effective from January 01, 2018.

There was also an addition of Information Technology leader to the executive team. Aarti Shah, Ph.D., Senior Vice President and Chief Information Officer, has been named as the Executive Officer. She will join Lilly’s executive committee, in effect from January 01, 2018. It is an important step to position the information technology function for direct reporting to the CEO, given the increasing role of digital technology and analytics in the future of healthcare.

Retirement Update

On top of the new appointments, Lilly also revealed the retirement of two of its senior executives:

Maria Crowe, the President of manufacturing operations, is scheduled to retire in December 2017, after serving the Company for about 35 years. She had joined Lilly in 1982 and has been leading the global manufacturing network of 14 sites on four continents since 2012. Earlier, she was the Senior Vice President, global drug product manufacturing, which comprised emerging markets manufacturing, drug product operations, and US distribution. Moreover, she has also served several other roles in the Company. She was the Vice President for drug product manufacturing in the US and Latin America; general manager of Lilly del Caribe in Puerto Rico; and general manager of Lilly’s plant in Kinsale, Ireland.

David A. Ricks, Chairman and Chief Executive Officer at Eli Lilly and Company shared his view about her retirement. He stated that Maria has been an impactful leader throughout her career – she has affected all aspects Lilly’s manufacturing in her tenure. She led the Company in earning the trust of its customers, making medicines with the greatest levels of quality and safety, and transforming scientists’ life-changing ideas into a reality.

Jan Lundberg, Ph.D., Executive Vice President for science and technology and president of Lilly Research Labs, will retire by the end of May 2018. By then, he would have completed nearly eight years with the Company. Before joining Lilly, he served the global head of discovery research at AstraZeneca for about 10 years. His tenure at Lilly signifies a period of incredible research and development (R&D) output with Lilly poised to launch around 20 new medicines in 10 years. In fact, the Company also improved its late-stage success rates and reduced the clinical development timelines under Lundberg’s leadership.

According to Ricks, Lilly has been able to address some of the most challenging scientific questions head-on, all because of Jan’s leadership. He further added that owing to Jan’s determination and commitment as a scientist and leader, the Company has witnessed its pipeline of medicines grow drastically. Furthermore, he has positioned Lilly well for future success, giving great hope for its patients.

Promotion of Experienced Leaders to Boost Growth

Ricks also announced that individuals with experience, expertise as well as leadership skills are now joining the executive team. This would go a long way in building on the Company’s momentum of innovation-driven volume growth. This new team would help Lilly retain its focus as it works towards bringing forward new medicines in diabetes, cancer, immunology, neurodegeneration and pain. This would eventually enable the Company to alter the path of serious disease.

Additionally, Ricks also acknowledged the commitment of all the three executives who are announcing retirements this year – i.e. Derica Rice, Maria Crowe, and Jan Lundberg. He mentioned that their efforts put Lilly in a very strong market position. They have always been a critical part of Lilly’s success.

Last Close Stock Review

At the closing bell, on Friday, September 29, 2017, Eli Lilly’s stock marginally advanced 0.64%, ending the trading session at $85.54. A total volume of 3.50 million shares have exchanged hands, which was higher than the 3-month average volume of 3.46 million shares. The Company’s stock price advanced 3.94% in the last three months, 1.70% in the past six months, and 7.27% in the previous twelve months. Moreover, the stock surged 16.30% since the start of the year. The stock is trading at a PE ratio of 37.08 and has a dividend yield of 2.43%. The stock currently has a market cap of $93.58 billion.

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