Eli Lilly CFO resigns after probe finds 'inappropriate communication' with employees

Eli Lilly and Co said on Tuesday its Chief Financial Officer Josh Smiley resigned after an independent investigation found inappropriate personal communication 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 external counsel to conduct an independent probe.

The investigation revealed consensual though inappropriate personal communications between Smiley and certain Lilly employees, and behavior that Lilly leadership concluded exhibited poor judgment by Smiley.

Smiley's conduct was not related to financial controls, financial statements or any other business matters or judgments, the company said.

Reuters could not immediately reach Smiley for comment.

Smiley will be replaced by Anat Ashkenazi, who most recently served in the role of senior vice president, controller and chief financial officer of Lilly Research Laboratories, the company said.

Under the terms of his separation agreement, Smiley will be available to assist in the transition.