INDIANAPOLIS, Feb 18, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- The Board of Directors of Eli Lilly and Company (NYSE: LLY) has elected Ralph Alvarez as a new member, effective April 1, 2009. Alvarez, 53, currently serves as president and chief operating officer of McDonald's Corporation and is also a member of McDonald's board of directors. As a member of Lilly's board, Alvarez will serve on both the board's finance committee and public policy and compliance committee. He will serve under interim election and will stand for election by Lilly shareholders at the company's annual meeting in 2010.
"I am very pleased to welcome Ralph Alvarez to the Lilly board," commented John Lechleiter, Ph.D., Lilly chairman and chief executive officer. "Ralph has demonstrated strong leadership at McDonald's while overseeing a diverse, global organization. With over 30 years of exceptional service in the food service retailer industry, Ralph truly understands and appreciates the value of building a successful, global customer-focused enterprise. His experience and insights will surely benefit Lilly shareholders as we continue to transform our company and deliver on our mission to provide improved outcomes for individual patients."
As president and chief operating officer of McDonald's Corporation since August 2006, Alvarez sets the global strategy and directs operations for the nearly 32,000 McDonald's restaurants in 118 countries. He joined McDonald's Corporation in 1994 and has held a variety of leadership roles throughout his career, including president of McDonald's North America and president and chief operations officer of McDonald's USA. Prior to joining McDonald's in 1994, Alvarez had a lengthy career in the restaurant industry working for Burger King Corporation and Wendy's International, Inc.
Alvarez currently serves on the President's Council and the International Advisory Board of the University of Miami, where he earned his bachelor's degree in Business Administration in 1976. He is also a member of the Board of Directors for McDonald's Corporation and KeyCorp.
An active advocate for Ronald McDonald House Charities, Alvarez is a former president of Ronald McDonald House Charities in Mexico. In addition, he is a member of the Board of Trustees for Chicago's Field Museum.
About Lilly
Lilly, a leading innovation-driven corporation, is developing a growing portfolio of first-in-class and best-in-class pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers - through medicines and information - for some of the world's most urgent medical needs. Additional information about Lilly is available at http://www.lilly.com .
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