Lilly Reshapes Units, Leadership

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INDIANAPOLIS -

Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced a series of organizational and leadership changes. The moves include naming the successor to new Chief Executive Officer David Ricks and restructuring several business units.

Ricks says "Lilly begins 2017 with a clear view of its opportunities for growth in the years ahead. The adjustments we are announcing today to pharmaceutical therapeutic and geographic business areas are designed to maximize the potential of our late-stage pipeline and newly launched medicines, while improving productivity."

Last month, the company announced job cuts in anticipation of key patent expirations and dropping its pursuits involving a highly-anticipated potential Alzheimer's Disease treatment. Lilly says the new changes will reduce the number of leadership positions, increase productivity and simplify its global commercial organization.

Christi Shaw will become senior vice president and president of Lilly Bio-Medicines in April, replacing Ricks as lead of the unit. Sue Mahony will stay on as senior vice president of Lilly and president of Lilly Oncology. Lilly USA President Alex Azar has left for other career opportunities and his vacated role will be absorbed by Lilly Diabetes President Enrique Conterno. The new Lilly International unit, formed from the combination of the current Emerging Markets and European businesses, will be led by Lilly Senior Vice President and Emerging Markets President Chito Zulueta.

Lilly's Diabetes, Oncology and Bio-Medicines human pharmaceutical therapeutic business areas will add China to its list of commercial market responsibilities that currently include the United States, Japan and Canada.

You can connect to more about the changes by clicking here.

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