Lilly CFO Josh Smiley Resigns Following Allegations of Inappropriate Personal Relationship

By Dave Sebastian

Eli Lilly & Co. said Chief Financial Officer Josh Smiley has resigned after the company was made aware of allegations of an inappropriate personal relationship between Mr. Smiley and an employee.

Lilly on Tuesday said an independent investigation with an external counsel found what it deemed consensual but inappropriate communications between Mr. Smiley and certain employees and "behavior that Lilly leadership concluded exhibited poor judgment."

"Lilly holds all employees accountable to its core values and strongly believes its executive officers carry an even higher burden in ensuring those values are upheld," the drugmaker said. "Mr. Smiley did not meet that standard."

Mr. Smiley's alleged conduct wasn't related to financial controls, financial statements or business matters, Lilly said.

Succeeding Mr. Smiley is Anat Ashkenazi, who joined the company in 2001 and most recently served as finance chief of Lilly Research Laboratories. Mr. Smiley will be available to assist in the transition under the terms of his separation agreement, the company said.

Mr. Smiley joined Lilly in 1995 and rose through the ranks to become CFO in 2018.

Write to Dave Sebastian at [e-mail]

(END) Dow Jones Newswires

February 09, 2021 07:39 ET (12:39 GMT)

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