Shares of Eli Lilly & Co. LLY, +1.98% were down 0.3% in premarket trading on Tuesday after the drugmaker said chief financial officer Josh Smiley will resign after engaging in inappropriate personal communications with some employees. He had a personal relationship with an employee, which was found to be consensual. Lilly said that Anat Ashkenazi, a 20-year veteran of the company, will replace Smiley. Ashkenazi most recently served as controller and CFO of Lilly Research Laboratories. Smiley is expected to help with her transition. Lilly’s stock is up 40.5% over the past year, while the broader S&P 500 SPX, +0.74% has gained 16.5%.
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