Healthcare Industry News: Eli Lilly
News Release - April 8, 2009
J. Michael Cook to Retire from Lilly Board of DirectorsMichael Eskew Named New Chair of Audit Committee
INDIANAPOLIS, April 8 (Healthcare Sales & Marketing Network) -- The board of directors of Eli Lilly and Company (NYSE: LLY ) today announced that J. Michael Cook will retire from the Lilly board effective April 20, 2009. Mr. Cook, the retired chairman and chief executive officer of Deloitte & Touche LLP, has been a director on the Lilly board since 2005. Mr. Cook has been a member of the board's compensation committee and finance committee, and has served as chair of the board's audit committee since 2006.
The board also announced that it has appointed Michael Eskew to replace Mr. Cook as chair of the audit committee. Mr. Eskew has been a member of the Lilly board since 2008 and has served on both the audit committee and compensation committee.
"I am extremely grateful for the contributions that Mike Cook has made to the Lilly board and the expert advice he has provided," commented John Lechleiter, Ph.D., Lilly chairman and chief executive officer. "As chair of the audit committee, Mike has helped shape the company's accounting policies and ensured full compliance with financial reporting requirements. We wish Mike well and thank him for his service to the Lilly board and our shareholders."
Mr. Cook is an emeritus member of the Advisory Council of the Public Company Accounting Oversight Board and is a trustee of The Scripps Research Institute. He serves on the boards of Comcast Corporation and International Flavors & Fragrances Inc. He chairs the audit committee for Comcast and chairs the compensation committee for International Flavors & Fragrances. He is chairman of the Accountability Advisory Council to the Comptroller General of the United States.
Michael L. Eskew is the retired chairman and chief executive officer of United Parcel Service, Inc., a position he held from January 2002 until December 2007. He continues to serve on the UPS board of directors. Mr. Eskew also serves as the chairman of the board of trustees of The Annie E. Casey Foundation, which is the country's largest foundation dedicated to disadvantaged youth. Mr. Eskew also serves on the boards of directors of the 3M Corporation and IBM Corporation. He is a member of 3M's audit committee and is the chairman of IBM's audit committee.
Lilly, a leading innovation-driven corporation, is developing a growing portfolio of first-in-class and best-in-class pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers - through medicines and information - for some of the world's most urgent medical needs. Additional information about Lilly is available at www.lilly.com.
Source: Eli Lilly
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