Non news is good news for Lilly

December 18, 2007
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Eli Lilly and Co.â??s announcement this morning that President and Chief Operating Officer John Lechleiter would succeed CEO Sidney Taurel in April was a picture of smooth succession planning.

Lechleiterâ??s ascension had been expected for so long that the news was hardly news.

The markets certainly werenâ??t thrown for a loop. Lilly shares have traded between $53.17 and $54 all day â?? not so different from the past couple of weeks.

Itâ??s the second smooth succession in a row for Lilly. Randy Tobias, in fact, prides himself on grooming Taurel as his replacement.

Youâ??ve probably seen a few transitions at organizations where youâ??ve worked. Howâ??s the best way for top executives to hand over control of a company?

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