Sidney Taurel will retire as CEO of Eli Lilly and Co. at the end of March, the company said this morning. He will remain chairman of the Indianapolis-based drug maker's board until December 2008.
John Lechleiter, 54, Lilly's president and chief operating officer since October 2005, will take over as CEO April 1.
Taurel, 58, joined the company in 1971 as a marketing associate and has been CEO since July 1998.
This story will be updated.