Eli Lilly and Company (LLY, Financial) has announced significant changes to its Board of Directors, effective December 2024. On November 19, 2024, the Board elected Jon Moeller as a new member, with his term beginning on December 1, 2024. Moeller, who is currently the Chairman, President, and CEO of Procter & Gamble, brings over two decades of leadership experience in finance, business, and strategy to Eli Lilly. He will serve on the Board's Audit Committee and the Directors and Corporate Governance Committee, and is set to stand for election by shareholders at the annual meeting in May 2026.
In conjunction with Moeller's appointment, Karen Walker has announced her resignation from the Board, effective December 31, 2024. Walker, who has been a Board member since 2018, has contributed significantly through her roles on the Audit and Talent and Compensation Committees. Her decision to step down is not due to any disagreements with the company, and she is expected to continue collaborating with Eli Lilly on digital commercial activities starting in 2025.
The Board has confirmed that Jon Moeller meets the independence standards set by the New York Stock Exchange and Eli Lilly's own director independence guidelines. There are no arrangements or understandings with any person that influenced his selection as a director, nor is he involved in any transactions subject to Section 404(a) of Regulation S-K with the company or its subsidiaries. Moeller will participate in Eli Lilly's standard director compensation program.
This leadership transition marks a strategic move for Eli Lilly as it continues to strengthen its governance and leverage Moeller's extensive expertise in the industry.
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