INDIANAPOLIS, Oct. 20 /PRNewswire-FirstCall/ -- The Board of Directors of Eli Lilly and Company (NYSE: LLY) has elected Douglas R. Oberhelman as a new member, effective December 1, 2008. Oberhelman, 55, currently serves as a group president of Caterpillar Inc. and is a member of Caterpillar's executive office. As a member of Lilly's board, Oberhelman will serve on both the board's audit committee and finance committee. He will stand for election by Lilly shareholders at the company's next annual meeting in April, 2009.
"We are very pleased to welcome Doug Oberhelman to the Lilly board," said Sidney Taurel, Lilly's chairman. "Doug has demonstrated strong leadership in his 33 years with Caterpillar, a global leader in the manufacturing and sales of industrial machinery and equipment. Doug's international management experience, particularly in Asia, will serve Lilly shareholders well as the company moves to expand its presence in this key region. In addition, Doug's financial acumen and prior role as CFO at Caterpillar will bring valuable insights to our board's audit and finance committees."
"I look forward to working together with Doug and the other Lilly board members to deliver increased value for our shareholders," commented John Lechleiter, Ph.D., Lilly president and chief executive officer. On January 1, 2009, Lechleiter will succeed outgoing chairman Taurel, who had previously announced his retirement from the company and the board effective December 31, 2008. "Doug's experiences will directly support several key aspects of our strategy, including our commitment to be more customer-focused, more productive and more global in our scope and reach."
As group president of Caterpillar since 2002, Oberhelman has
|SOURCE Eli Lilly and Company|
Copyright©2008 PR Newswire.
All rights reserved