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news.Eli Lilly and Company has appointed Ralph Alvarez to its board of directors, effective April 1, 2009. Mr Alvarez currently serves as president and COO of McDonald's and is also a member of McDonald's board of directors.
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As a member of Lilly’s board, Mr Alvarez will serve on both the board’s finance committee and public policy and compliance committee. Mr Alvarez will serve under interim election and will stand for election by Lilly shareholders at the company’s annual meeting in 2010.
Mr 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. Mr Alvarez is also a member of the board of directors for McDonald’s and KeyCorp.
John Lechleiter, chairman and CEO of Lilly, said: “I am very pleased to welcome Ralph Alvarez to the Lilly board. Ralph has demonstrated strong leadership at McDonald’s while overseeing a diverse, global organization. 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.”