INDIANAPOLIS (dpa-AFX) - Drugmaker Eli Lilly and Co. (LLY) said Monday that its chairman, president, and chief executive officer, John Lechleiter, will undergo scheduled surgery for a dilated aorta on May 13.
The condition was found during unrelated testing and has been asymptomatic. Lechleiter is expected to make a full recovery and return to his duties later this summer, the company said in a statement.
In accordance with the company's bylaws, Derica Rice, executive vice president, Global Services and chief financial officer, will assume the additional role of acting chief executive officer during Lechleiter's surgery and recuperation period. Ellen Marram, currently the board's lead independent director, will serve as acting chairperson of the board of directors. She was appointed as lead independent director in April 2012.
Rice has more than 22 years of service with Eli Lilly, including leadership roles in finance and general management. He became chief financial officer in 2006 and assumed leadership of the company's global services organization in 2010.
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