Ricks to Succeed Lechleiter at Lilly

Posted: Updated:
Dave Ricks has been with the company since 1996. Dave Ricks has been with the company since 1996.
INDIANAPOLIS -

After 37 years, eight as chief executive officer, John Lechleiter has announced plans to retire from Indianapolis-based Eli Lilly and Co. (NYSE: LLY) at the end of the year. The pharmaceutical maker says Senior Vice President Dave Ricks will take the helm January 1 and become board chair June 1. Lechleiter, who currently leads the company and the board, will serve as non-executive chairman of the board through May 31.

Lechleiter calls it a "logical time" to make the change, as the company continues to navigate a new era that follows a string of patent expirations. "Dave Ricks is a capable, decisive and energetic leader who is very well prepared to succeed me as CEO. He brings to the role broad experience in Lilly's commercial operations along with an appreciation and understanding of research and development. He previously led Lilly's business operations in Canada, China, and the U.S. Since 2012, he has successfully guided Lilly's largest business area, Lilly Bio-Medicines, through a period of profound change. He is well respected inside and outside the company, consistently builds exceptional teams, and sets high standards of performance. Dave is well suited to help Lilly capitalize on the opportunities before it, as well as to confront the inevitable challenges that lie ahead. He will provide outstanding leadership for our company in the coming years."

Ricks' successor as president of Lilly Bio-Medicines, a position he has held since 2012, will be announced at a later date.

Tuesday, Lilly detailed its revamped pipeline of potential treatments, 20 in all, covering 10 years.

You can connect to more on the transition throughout the day on social media, the website and the Inside INdiana Business INside Edge midday e-newsletter.

  • Perspectives

    • 3 Ways to Hire For a Cultural Fit

      While the vast majority of companies long for a strong work culture, not all are willing to put in the extra effort that it requires. Instilling culture in new team members isn’t a task that can simply be checked off a list. Rather, it’s a series of things company leadership must do that begins with the hiring process. It doesn’t end there either, though. Companies must be devoted to protecting their culture at all costs. Culture doesn’t happen on it's..

    More

Events



  • Most Popular Stories

    • NIBCO is headquartered in Elkhart. (photo courtesy of NIBCO)

      Companies Detail Closures, Layoffs

      Four companies have announced plans to lay off a total of nearly 300 employees. In separate notices filed with the state, the companies say the moves will affect workers in Indianapolis, Fort Wayne, Charlestown and Peru.

    • Photo of Gary City Hall courtesy of the City of Gary

      Gary Bank Partnership Awards First Microloan

      The city of Gary is partnering with First Financial Bank to offer small business loans to local businesses who enter the Gary Micro-Enterprise Initiative. The city has named Joslyn Kelly, owner of J’s Breakfast Club, the first recipient of funding through the program.

    • (rendering courtesy of Brightmark Energy)

      Construction to Begin on Plastics-to-Fuel Plant

      California-based Brightmark Energy will today break ground on its $260 million plastics-to-fuel plant in the northeast Indiana town of Ashley. The 112,000-square-foot facility, which the company says will be the first of its kind in the nation, is expected to create 136 full-time jobs when fully operational. The plant will use a state-of-the-art process to recycle plastic waste that has reached the end of its useful life, including items that normally cannot be recycled, such as...

    • Indiana Rail Operator to be Acquired

      The owner of several Hoosier short-line railroads will soon be under new ownership. Illinois-based Pioneer Railcorp has announced an agreement to be acquired by BRX Transportation Holdings LLC.

    • (rendering courtesy city of Kokomo)

      Kokomo Hotel Could See New Developer

      City officials say a new developer for a proposed $26 million hotel and conference center in downtown Kokomo could be announced soon. The Kokomo Tribune reports the project continues to move forward despite Fishers-based Dora Hotel Co. LLC pulling out of the project earlier this month.