INDIANAPOLIS - The chief financial officer of Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced he will retire after more than a decade in the position. Derica Rice, who also serves on the executive committee of the Lilly board, first came to the company in 1990. In that time, he has served in roles including vice president, controller, general manager to the United Kingdom and CFO for European and Canadian operations.

Rice has been in leadership positions through multiple key transitional periods. "Derica helped navigate the YZ period, served as a trusted advisor to three CEOs, left a lasting impact on Lilly talent across the globe and transformed our global services delivery organization," Chief Executive Officer Dave Ricks says. "Derica has been a core part of Lilly's turnaround, our innovation strategy and our consistent ability to set and then meet targets and commitments. His personal integrity and commitment to our company has been unwavering." Ricks adds "the entire Lilly family would like to thank Derica and wish him the very best in his next set of endeavors."

Rice says his career at Lilly has been "a true calling," adding "helping people live longer, healthier lives... I can't think of a more noble pursuit than that. It's been a wonderful ride and I'm grateful for the opportunity."

Lilly says Rice will remain with the company through the end of the year and it is considering internal and external candidates to be his successor.