Eli Lilly and Company has announced that John C. LechleiterLechleiter, chairman and CEO, will step down as chairman and CEO of Lilly on December 31, 2016. Lechleiter will remain as a non-executive director of Lilly's board until May 31, 2017, at which time he will permanently leave the company. Lilly's board of directors unanimously elected Dave A. Ricks, senior vice president and currently president of Lilly Bio-Medicines, to serve as president and chief executive officer and to serve on the board of directors effective January 1, 2017, becoming its president as of June 1, 2017.
"Lilly has weathered the recent challenges of the patent expiration period into a new era of growth, so it makes sense that there is a transition in leadership of the company," said Lechleiter. “Dave Ricks is capable, assertive, energetic and very well equipped to succeed as my successor CEO. He has extensive experience in overseas business operations, as well as a special understanding of R&D issues. Ricks previously led Lilly's business operations in Canada, China and the United States and, since 2012, has successfully led Lilly's largest Bio-Medicines business area during a period of profound change,” Lechleiter noted in a statement. .
“The prospect of leading Lilly is a challenge and a great motivation,” underlined Ricks, who says that “patients, doctors, administration and society expect a lot from us. Together with my Lilly colleagues around the world we hope to meet those expectations and where possible exceed them,” he said.
“Lilly has the right strategy. We have built a strong pipeline and have a promising portfolio with newly approved drugs. To address major patent expirations in recent years, we have defined and enhanced our R&D focus, and delivered research results for our agility,” he continued. Ricks. “It is now a challenge to realize our growth potential in a growing global market. We must focus on developing new and better medicines for the patients who need them and, wherever possible, for the benefit of our employees, the community and shareholders,” Ricks said.
THE GLOBAL / MADRID – jueves, 28 de julio de 2016
Related news: John C. Lechleiter, 62 years old, during the fiscal year 2015 received a global compensation of $ 16.562.500 [source Bloomberg]. Upon retirement, Dr. Lechleiter will be entitled to a pension with a total value of approximately $ 32.5 million, based on current assumptions, to be received in installments as an annuity, deposited in a depository company with the Securities and Exchange Commission in March. The actual amount paid may differ, a spokesperson said. In addition, he may receive approximately another 15.5 million $ for deferring collection until retirement.
As CEO, Mr. Ricks, 49, will receive an annualized base salary of $ 1.4 million euros and will be eligible for a bonus of $ 2.1 million, Lilly said. [WSJ source ]
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