Over the last eight years, Eli Lilly relied on a three-decade company veteran to steer it through declining sales and a struggling product pipeline. Now, it’ll rely on another long-time executive for its next chapter.
The Indianapolis-based health insurer said its participation in the government's health insurance exchanges—a sore subject for the Obama administration that is trying to stop the acquisition—may be at stake.
John Lechleiter has been the company's CEO since 2008. The announcement Wednesday morning of his retirement comes one day after the firm announced strong revenue and profit for its second quarter, indicating that Lechleiter's initiatives have paid off.