Eli Lilly and Company (Eli Lilly), a diabetes care devices company, board said that J. Michael Cook will retire from its board effective April 20, 2009. Cook has been a director on the Eli Lilly board since 2005. The board also announced the appointment Michael L. Eskew to succeed Cook as chair of the audit committee. Eskew has been a member of the Eli Lilly board since 2008 and has served on both the audit committee and compensation committee.
Cook is the retired chairman and chief executive officer of Deloitte & Touche LLP. Cook has been a member of the board’s compensation committee and finance committee, and has served as chair of the board’s audit committee since 2006. Cook is an emeritus member of the Advisory Council of the Public Company Accounting Oversight Board and is a trustee of The Scripps Research Institute. He serves on the boards of Comcast Corporation and International Flavors & Fragrances Inc. He chairs the audit committee for Comcast and chairs the compensation committee for International Flavors & Fragrances. He is chairman of the Accountability Advisory Council to the Comptroller General of the US.
Michael L. Eskew has been a member of the Eli Lilly board since 2008 and has served on both the audit committee and compensation committee. Eskew is the retired chairman and chief executive officer of United Parcel Service, Inc., a position he held from January 2002 until December 2007. He continues to serve on the UPS board of directors. Mr. Eskew also serves as the chairman of the board of trustees of The Annie E. Casey Foundation, which is the country’s largest foundation dedicated to disadvantaged youth. Mr. Eskew also serves on the boards of directors of the 3M Corporation and IBM Corporation. He is a member of 3M’s audit committee and is the chairman of IBM’s audit committee.
“I am extremely grateful for the contributions that Mike Cook has made to the Lilly board and the expert advice he has provided,” commented John Lechleiter, Eli Lilly chairman and chief executive officer. “As chair of the audit committee, Mike has helped shape the company’s accounting policies and ensured full compliance with financial reporting requirements. We wish Mike well and thank him for his service to the Lilly board and our shareholders.”