Taurel's retirement and the selection of Lechleiter to succeed him has been widely expected in the past few years as Lechleiter has assumed greater responsibility and a higher profile with the Indianapolis-based drugmaker.
NEW YORK (Reuters) - Eli Lilly and Co <LLY.N> on Tuesday said Sidney Taurel, the drugmaker's longtime chief executive officer, will retire on March 31 and will be succeeded by Chief Operating Officer John Lechleiter.
Taurel's retirement and the selection of Lechleiter to succeed him has been widely expected in the past few years as Lechleiter has assumed greater responsibility and a higher profile with the Indianapolis-based drugmaker.
Taurel, who became CEO in July 1998 and has been chairman of the board since early 1999, will continue as board chairman until the end of 2008, Lilly said in a release.
(Reporting by Ransdell Pierson; editing by John Wallace)
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