Eli Lilly have appointed Anat Ashkenazi as senior vice president and chief financial officer following the resignation of Josh Smiley. Ashkenazi, who most recently served in the role of senior vice president, controller and chief financial officer of Lilly Research Laboratories, succeeds Smiley, who has resigned as senior vice president and chief financial officer and will be leaving the company.
According to Lilly, it recently learned of allegations of an inappropriate personal relationship between Smiley and an employee. Lilly immediately engaged external counsel to conduct an independent investigation. That investigation revealed consensual though inappropriate personal communications between Smiley and certain Lilly employees. Lilly leadership concluded the behavior exhibited poor judgment by Smiley.
Lilly says it holds all employees accountable to its core values and found that Smiley did not meet its standards. Under the terms of his separation agreement, Smiley will be available to assist in the transition. Smiley's conduct was not related to financial controls, financial statements or any other business matters or judgments.
Ashkenazi has been with Lilly for nearly 20 years and has been senior vice president, controller and chief financial officer of Lilly Research Laboratories since 2016. In this role, she oversaw the CFOs of the company's commercial businesses, as well as those for research and development, manufacturing and quality, and G&A functions. She also led the corporate strategic planning team and business transformation office. Previously, she served as chief financial officer for several of the company's global business areas.
"Lilly's core values are integrity, excellence and respect for people. We expect all employees to live these values, and we expect exemplary conduct from our executives at all times," said David A. Ricks, Lilly chairman and CEO. "We are confident in Anat's ability to serve as our next CFO given her impeccable track record of leadership and business success across nearly all major parts of the company, most recently as corporate controller and head of strategy. Having finished 2020 with strong momentum and strong financial performance, we are well positioned to continue delivering on the promise of our pipeline and the potential to grow Lilly and its impact on patients' lives in the decade to come. We appreciate Josh's many contributions to Lilly and wish him well."
Since joining Lilly in 2001, Ms. Ashkenazi has held a range of roles across strategy, finance and Six Sigma. Most recently, she served as senior vice president, controller and chief financial officer of Lilly Research Laboratories. She also led the corporate strategic planning team and business transformation office. Previously, she served as chief financial officer for several of the company's global business areas. Prior to joining Lilly, she worked in financial services at Ma'alot Standard & Poor's and at Ha'poalim Bank in Israel.
Read the Eli Lilly statement