Lilly adds P&G chief Jon Moeller to board as director Karen Walker steps down

Eli Lilly and Company announced on Nov. 19, 2024, that Jon Moeller was elected to its board of directors effective Dec. 1, 2024, and that Karen Walker will step down from the board effective Dec. 31, 2024 ^[1]. Walker, who has been a director since 2018, will instead work with Lilly during 2025 on certain digital commercial activities, the company said ^[1].

Moeller is chairman of the board, president and chief executive officer of Procter & Gamble ^[1]. Lilly said he has been part of P&G's leadership team for more than two decades, holding roles in finance, business and strategy, including vice chairman, chief financial officer and chief operating officer, with responsibility for developing markets and global operations ^[1]. He also serves on the boards of the Business Roundtable, the Consumer Goods Forum and Catalyst, a nonprofit that works on workplace inclusion for women ^[1].

On Lilly's board, Moeller will sit on the Audit Committee and the Directors and Corporate Governance Committee ^[1]. Shareholders will get their first chance to vote on his seat at the company's annual meeting in May 2026, Lilly said ^[1].

Lilly chair and CEO David A. Ricks said of Moeller: "As the CEO of an iconic American company with global reach, Jon brings deep expertise in driving strategic and operational excellence at scale" ^[1]. Ricks added that Moeller's experience leading a consumer-focused organization and offering expert counsel would give the board valuable perspective ^[1].

Walker's board service included the Audit Committee and the Talent and Compensation Committees ^[1]. Lilly cited her background in brand-building and go-to-market strategy, noting she is an operating partner with The Goldman Sachs Group and previously served as chief marketing officer at both Intel Corporation and Cisco Systems ^[1]. The company said she mentored Lilly leaders and provided insight on talent development and technology strategy during what it described as a period of significant growth ^[1].

Ricks thanked Walker "for her guidance, mentorship and insights during this important period in Lilly's history" and said the company is grateful she will keep contributing as it scales its digital and commercial capabilities ^[1].

The announcement did not describe the scope of Walker's 2025 digital commercial work, whether it is a paid arrangement, or how it will be structured. Those details have not been disclosed ^[1].

Why it matters for patients

The change is a matter of corporate governance at Lilly, the Indianapolis company that makes the diabetes and obesity medicines Mounjaro and Zepbound, among others ^[1]. The announcement names no product and reports no news about approvals, labeling, prices, insurance coverage or supply ^[1].

What it does indicate is where the board is placing attention. Moeller's assignments are on the audit and corporate governance side, which oversees financial reporting and board practices ^[1]. Walker's continuing work sits on the commercial and digital side of the business, the area that shapes how medicines are marketed, priced and presented to consumers ^[1]. Marketing and pricing decisions are among the factors that influence what patients see in advertising and what they pay at the pharmacy counter, but Lilly has not said how Walker's role will affect any of that ^[1].

Nothing in the announcement changes anything a patient would notice directly, and no timeline for any commercial or pricing effect has been reported ^[1].

What happens next

• Dec. 1, 2024: Moeller's election to the board takes effect ^[1].
• Dec. 31, 2024: Walker's resignation from the board takes effect ^[1].
• During 2025: Walker is set to collaborate with Lilly on certain digital commercial activities ^[1].
• May 2026: Lilly shareholders are scheduled to vote on Moeller's election to the board at the annual meeting ^[1].