Lilly's Taurel to take 50-percent pay cut

December 21, 2007
Sidney Taurel, who is retiring at the end of March after nearly a decade as CEO of Indianapolis-based Eli Lilly and Co., will see his salary cut in half while he remains chairman through the end of 2008.

His base salary will be $864,250, with a $1.2 million non-stock bonus. The bonus figure is a target that actually could range from nothing to double that amount.

The figures were part of a Securities and Exchange Commission filing earlier this week.

Taurel, 58, is being replaced by Lilly President and Chief Operating Officer John Lechleiter.
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