John Lechleiter, PhD, will step down from his role as president and CEO of Indianapolis-based Eli Lilly by the end of the year, according to Reuters.
David Ricks, the company's senior vice president, will take over the CEO role on January 1.
Dr. Lechleiter has served has CEO of Eli Lilly for eight years. He joined the 140-year-old drug company in 1979 as a senior organic chemist, eventually turning to roles in pharmaceutical product development, regulatory affairs and operations.
"As Lilly transitions from our recent challenging period of patent expirations to a new era of growth, it is the logical time for a transition in company leadership," Dr. Lechleiter said in an IndyStar report.
Mr. Ricks has acted as president of Lilly Bio-Medicines — the company's largest business in terms of sales — since 2012.
"Dave Ricks is a capable, decisive and energetic leader who is very well prepared to succeed me as CEO. He brings to the role broad experience in Lilly's commercial operations along with an appreciation and understanding of research and development," said Dr. Lechleiter.
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