Business

Eli Lilly's CFO resigns after the investigation finds "inappropriate communication" with staff

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Josh Smiley, Senior Vice President and Chief Financial Officer of Eli Lilly and Company, speaks during an interview in San Francisco, California, the United States, on January 13, 2020.

Stephen Lam | Reuters

Eli Lilly said Tuesday that his CFO Josh Smiley resigned after an independent investigation found inappropriate personal communications with certain Lilly employees.

Lilly said it was recently made aware of allegations of an inappropriate personal relationship between Smiley and an employee, and the company immediately hired an outside lawyer to conduct an independent investigation.

The investigation found consensual, albeit inappropriate, face-to-face communication between Smiley and certain Lilly employees, and the behavior that Lilly's leadership came about indicated poor judgment on the part of Smiley.

Smiley's behavior was not related to financial controls, financial statements or any other business matter or judgment, the company said.

Reuters could not immediately reach Smiley for comment.

Smiley will be replaced by Anat Ashkenazi, who most recently served as Senior Vice President, Controller and Chief Financial Officer of Lilly Research Laboratories.

As part of his separation agreement, Smiley will be available to assist with the transition.

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Steven Gregory