Who is Jackson Pei Tai and what is his background?

Jackson Pei Tai is a new director elected to Eli Lilly's Board. He is 63 years old and has a strong background in international finance and executive leadership. Notably, he served as vice chairman and CEO of DBS Group Holdings and DBS Bank (a major Asian financial services group) from 2002 to 2007. He also holds or has held non-executive director roles at major global companies including The Bank of China Limited, Singapore Airlines, NYSE Euronext, MasterCard Incorporated, and Royal Philips NV.

What committees will Mr. Tai serve on?

Mr. Tai has been appointed to serve on the Audit and Finance Committees of the Eli Lilly Board of Directors. This indicates an expectation that his financial expertise will be utilized in these critical oversight functions.

When does Mr. Tai's appointment become official, and will shareholders have a say?

Mr. Tai's election as a director is effective November 1, 2013. He will serve under an interim election and will then stand for formal election by Eli Lilly shareholders at the company's annual meeting, which was scheduled for May 2013 according to the filing. This means shareholders will have the opportunity to approve his permanent board position.

Are there any conflicts of interest or undisclosed arrangements with Mr. Tai?

The filing states that there are no arrangements between Mr. Tai and any other person for his selection as director, and he is not a party to any transaction with the company or its subsidiaries that requires disclosure under Section 404(a) of Regulation S-K. This suggests a clean appointment with no immediate conflict concerns.

LLY 8-K: Leadership Changes

Summary

Eli Lilly and Company (LLY) has filed an 8-K/A amendment to report the election of Jackson Pei Tai to its Board of Directors, effective November 1, 2013. Mr. Tai brings a wealth of international financial and executive experience, having held significant leadership roles at DBS Group Holdings and DBS Bank, and currently serves on the boards of several major global corporations including NYSE Euronext, MasterCard, and Royal Philips NV. His appointment is significant as it strengthens the board's expertise, particularly in financial matters, with his designated service on the Audit and Finance Committees. Mr. Tai's tenure will be subject to shareholder election at the company's annual meeting. This move signals Lilly's commitment to enhancing its governance and leveraging diverse, high-caliber talent to guide its strategic direction.

Key Highlights

1Eli Lilly's Board of Directors has elected Jackson Pei Tai as a new director, effective November 1, 2013.
2Mr. Tai possesses extensive experience in the financial services sector, including prior leadership roles at DBS Group Holdings and DBS Bank.
3He currently holds non-executive director positions at prominent global entities such as The Bank of China Limited, Singapore Airlines, NYSE Euronext, MasterCard Incorporated, and Royal Philips NV.
4Mr. Tai will serve on the Audit and Finance Committees of the Eli Lilly Board.
5His appointment will be subject to election by Eli Lilly shareholders at the upcoming annual meeting.
6There are no undisclosed arrangements or transactions between Mr. Tai and the company, ensuring independent nomination.
7Mr. Tai will receive compensation as per the standard Director's compensation program outlined in the 2013 Proxy Statement.

ELI LILLY & Co 8-K/A Report, Executive Changes (Oct 22, 2013)

Summary

Key Highlights

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