News
Google hires Eli Lilly chief financial officer Anat Ashkenazi as CFO
Photo: Jakub Porzycki/NurPhoto (Getty Images)
After nearly a year of searching, Google’s parent company Alphabet has finally found a replacement for its chief financial officer position.
GameStop shares are on sale and ‘Roaring Kitty’ should go now, says strategist
The technology giant hired Anat Ashkenazi — executive vice president and chief financial officer of pharmaceutical giant Eli Lilly — as its new CFO and executive vice president, Alphabet said Wednesday. It will join Google and Alphabet starting July 31.
The company announced that CFO Ruth Porat would assume a new role as president and chief investment officer of the company last July, and remained CFO throughout the succession search.
“We are delighted to have found such a strong CFO with a track record of strategically focusing on long-term investments to drive innovation and growth,” Alphabet CEO Sundar Pichai said in a statement.
Pichai and Ashkenazi noted investment plans in Alphabet’s next phase of growth, with the CEO emphasizing the innovation potential of AI.
Ashkenazi has been with Eli Lilly since 2001 and served as CFO for the past three years, where he helped drive “tremendous growth and laid the foundation to help us reach even more patients with our medicines,” said Eli Lilly CEO David Ricks, in a statement. declaration announcing his departure.
Eli Lilly, the company behind weight loss Drug Zepbound and diabetes drug Mounjaro have seen massive growth in recent years thanks to the boom in demand for the drugs. Ashkenazi played a key role in developing investment strategies and allocating windfall profits. Over the past two years, Eli Lilly has invested at least $3 billion in new manufacturing installations to try keep up with demand.
Eli Lilly’s net profit rose 67% in the three months ended March 31, to $2.2 billion, up from $1.3 billion in the same period last year. The company is now embarking on an internal and external search for Ashkenazi’s successor, it said.
Read more: A pill could solve Zepbound and Wegovy shortages, says Eli Lilly exec