INDIANAPOLIS (WISH) – Eli Lilly & Company announced a leadership change within the company Wednesday morning.
The company announced John Lechleiter is retiring as Lilly’s chairman, president and CEO. It goes into effect December 31.
Lilly’s board of directors unanimously elected David Ricks as president and chief executive officer. He will begin his position on January 1 2017 and become chairman of the board on June 1, 2017. Ricks is currently senior vice present and president of Lilly Bio-Medicines.
Lechleiter will remain non-executive chairman of Lilly’s board of directors until May 31, 2017.
More details will be announced at an event on Wednesday at 11 a.m.