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.
Keep reading Endpoints with a free subscription
Unlock this story instantly and join 102,000+ biopharma pros reading Endpoints daily — and it's free.