Josh Smiley (Eli Lilly)

Eli Lil­ly strips oust­ed CFO Josh Smi­ley of $24M in pay af­ter 'i­nap­pro­pri­ate mes­sages' scan­dal

Eli Lil­ly let go of for­mer CFO Josh Smi­ley ear­li­er this week, and it ap­par­ent­ly had good rea­son to do so af­ter the vet­er­an fi­nance chief re­port­ed­ly sent in­ap­pro­pri­ate mes­sages to em­ploy­ees. But the fir­ing came with a spe­cial poke in the eye for Smi­ley, who will be forced to for­feit $24 mil­lion in com­pen­sa­tion as he walks out the door.

Ac­cord­ing to an SEC fil­ing, Lil­ly re­quired Smi­ley to for­go $1 mil­lion of his 2020 cash bonus, around $3 mil­lion of his due share­hold­er val­ue awards the past three years, and all oth­er cur­rent and fu­ture eq­ui­ty in­cen­tive awards as part of his sev­er­ance deal— which in ag­gre­gate to­tal more than $24 mil­lion in fu­ture pay­outs wiped away.

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