Tuesday, December 18, 2007

Lilly - So long Sid

Sidney Taurel, the longtime chairman and chief executive officer of Eli Lilly & Co. will retire next year that will result in the promotion of his second-in-command at one of the Midwest's largest pharmaceutical giants.

Taurel, 58, only the eighth top executive in the company’s 131-year history, "will announce his retirement as chief executive officer effective March 31, 2008, and as chairman of the board effective Dec. 31, 2008," the company said in a statement this morning.

Later today, Taurel will announce that John Lechleiter, 54, president and chief operating officer, will become chief executive officer on April 1, 2008. The moves became official after a vote of Lilly's board of directors on Monday.


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