Lilly CFO Derica Rice Assumes Expanded Responsibilities, Promoted to Executive Vice President

Lilly CFO Derica Rice Assumes Expanded Responsibilities, Promoted to Executive Vice President

INDIANAPOLIS, Dec 18, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Eli Lilly and Company (NYSE: LLY) today announced that Derica Rice, senior vice president and chief financial officer for Lilly, has assumed expanded responsibilities and has been promoted to executive vice president, global services and chief financial officer, effective January 1.

In this role, Rice will retain his responsibilities as chief financial officer of the company and add responsibility for global services, including the ongoing global services design project, as well as IT and Six Sigma.

"Derica has demonstrated strong leadership and outstanding results during his 19-year career at Lilly," said Lilly Chairman, President and CEO John Lechleiter, Ph.D. "Derica, in his new role, will help ensure that these important functions, aligned with our global services design effort, continue to provide needed support to our business units and our key functions in the most efficient and effective way possible."

Rice joined the company in 1990 as an international treasury associate. He has held numerous leadership roles during his tenure, including chief financial officer for Lilly Canada, executive director and chief financial officer for European operations based in London, and the general manager of Lilly United Kingdom and Republic of Ireland. Prior to becoming Lilly's CFO in 2006, Rice had been the vice president and controller since July 2003.

Born in Decatur, Alabama, Rice received a bachelor's degree in electrical engineering from Kettering University (formerly the GMI Engineering & Management Institute) in 1988 and a master's degree in business administration in 1990 from Indiana University.

In 2009, Rice was selected as one of the "Most Powerful Executives in Corporate America" by Black Enterprise magazine and he was selected as one of Diversity MBA magazine's "Top 100 Under 50 Executives." He serves as a member of the board of directors for Target Corporation, Clarian Health North and The Center for Leadership Development. Rice also serves as a member of the Indiana University Board of Trustees and the Board of Governors of the Indianapolis Museum of Art.

About Eli Lilly and Company

Lilly, a leading innovation-driven corporation is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers - through medicines and information ? for some of the world's most urgent medical needs. Additional information about Lilly is available at www.lilly.com.

C-LLY

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SOURCE Eli Lilly and Company

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