Eli Lilly and Company announces the appointment of Dave Ricks as its next president and CEO, effective January 1, 2017.

At the end of this year, John Lechleiter will retire as Lilly's CEO, to be succeeded by Dave Ricks. Dave, currently a senior vice president at Lilly and the president of our Bio-Medicines group, will become CEO on January 1, 2017.

A 20-year Lilly veteran, Dave brings a wealth of global experience to his new role, as he has previously led Lilly affiliates in the U.S., China, and Canada. And, he has immersed himself in numerous facets of the business, including product development, global sales and marketing, and public policy. Since January 2012, he has served as president of Lilly Bio-Medicines, overseeing the development of about half of Lilly's late-stage pharmaceutical pipeline. He is also active in Lilly's corporate responsibility efforts, having served as the chair of United Way of Central Indiana's 2015 annual campaign.

Over the next six months, John and Dave will work closely together to assure a smooth handover of leadership. Dave will lead 2017's business planning, with an eye to ensuring that Lilly continues to deliver better and better medicines to the patients who need them-and in so doing, also benefits employees, communities and shareholders.

"I'm incredibly proud of Lilly and the people who work here-each of us playing an important part in making life better for people around the world through our medicines," Dave says. "Together, in the years ahead, we can meet and even exceed the high expectations that patients, doctors, health care payers and the rest of society have of Lilly." Today and in the future, we're committed to our promise to make life better for people around the world."