Eli Lilly's CEO Resigns (INDIANAPOLIS, IN) (wbaa) - Eli Lilly Tippecanoe Laboratories in Lafayette and other branches of the corporation will have a new leader.

Chief executive officer Sidney Taurel will retire from that position in March.

Current chief operating officer John Lechleiter will take over as Lilly's tenth CEO.

Taurel will serve as chairman of the company's board of directors for nine months after his retirement.

He has worked as Lilly's CEO for a decade. © Copyright 2012, wbaa