Eli Lilly (LLY) announced that its Chairman, President & CEO John Lechleiter, Ph.D., will retire as President & CEO on December 31 and will leave the board May 31, 2017. David Ricks, SVP and President, Lilly Bio-Medicines, will take over as President & CEO on January 1, 2017 and will become Chairman of the Board on June 1, 2017.