Eli Lilly CFO resigns after ‘inappropriate’ communication with employees

The pharmaceutical company said an independent inquiry was recently launched after it was “made aware of allegations of an inappropriate personal relationship” between Smiley and an employee. ‘The investigation revealed that personal communication with more than one employee and behavior regarding Lilly’s leadership were in agreement, albeit inappropriate, personal judgment by Mr. Smiley showed, ‘the company said in a statement to CNN Business.

Eli Lilly did not provide details on the nature of the relationship or the communication.

“Lilly holds all employees accountable for its core values ​​and strongly believes that its executives carry an even greater burden to ensure these values ​​are upheld,” the company said in a release on Tuesday. “Mr. Smiley did not meet the standard.”

Smiley is replaced by Anat Ashkenazi, a 20-year veteran of the company who was recently vice president of Lilly Research Laboratories.

The company said Smiley could help with the transition and that the behavior that led to his departure was not related to “financial controls, financial statements or any other matters or rulings.” Smiley joined Lilly (LLY) in 1995 and was promoted to chief financial officer in 2018.

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