INDIANAPOLIS -- The CEO of Eli Lilly and Company, John C. Lechleiter, Ph.D., is retiring from the company at the end of 2016.
Lechleiter has been CEO of the Indianapolis-based pharmaceutical company for eight years.
Effective Jan. 1, 2017, David A. Ricks will replace Lechleiter as president and CEO. He will also join the board of directors.
"As Lilly transitions from our recent challenging period of patent expirations to a new era of growth, it is the logical time for a transition in company leadership," Lechleiter said. "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.
Lechleiter first joined Eli Lilly in 1979 as a senior organic chemist in process research and development.
Ricks has been with the company since 1996, first joining as a business development associate. He has a degree in business from Purdue University.
Lechleiter will stay on the board until May 31, 2017.
"It has been a distinct honor and a privilege to serve this great company as its CEO these past eight years," Lechleiter said. "I wish to thank all of my Lilly colleagues for their unfailing support as well as their extraordinary efforts throughout this period."
