Summary
Eli Lilly and Company (LLY) announced a change to its Board of Directors, appointing Kimberly Johnson as a new member, effective February 16, 2021. This appointment increases the size of the Board to fifteen directors. Ms. Johnson brings extensive experience in executive leadership, having served as Executive Vice President and Chief Operating Officer at Fannie Mae, where she also held the role of Chief Risk Officer. Her background also includes leadership positions at Credit Suisse Group AG. Ms. Johnson's appointment is significant as she will serve on both the Compensation Committee and the Ethics and Compliance Committee. The company has confirmed her independence according to NYSE and internal guidelines, which is particularly relevant for her roles on these committees. Investors should note that Ms. Johnson will participate in the company's standard director compensation program.
Key Highlights
- 1Eli Lilly appointed Kimberly Johnson to its Board of Directors, effective February 16, 2021.
- 2The Board size has been expanded to fifteen directors following Ms. Johnson's appointment.
- 3Kimberly Johnson previously served as EVP and COO of Fannie Mae, with prior experience as Chief Risk Officer.
- 4Ms. Johnson has a background in finance and economics, holding degrees from Princeton University and Columbia Business School.
- 5She will serve on the Compensation Committee and the Ethics and Compliance Committee.
- 6The company has determined Ms. Johnson meets independence requirements for the NYSE and its own guidelines, including for compensation committee service.
- 7The appointment was formally announced via a press release on February 17, 2021.