Full Press Release Details
Media Contact: Colleen Parr Dekker +1 (317) 989.7011 or colleen_parr_dekker@elanco.com
Investor Contact: Tiffany Kanaga +1 (302) 897.0668 or kanaga_tiffany@elanco.com
Elanco Begins Next Phase of Integration
Post-Bayer Animal Health Acquisition; Executive Committee Member Sarena Lin to Depart
Transformation efforts will streamline
and localize as next phase of integration is realized
GREENFIELD, Ind.--(January 11, 2021)
--Today Elanco Animal Health Incorporated (NYSE: ELAN) announced that executive vice
president of Transformation and Technology, Sarena Lin, will take a role outside of the company at the end of January. Lin
has led the company's stand up and integration efforts over the last year, helping position Elanco for its final phases
of integration and value capture.
Elanco as head of North American operations in 2018, Lin most recently oversaw the creation of the company's technology infrastructure
post-separation from Eli Lilly and Company ("Lilly"), as well as the successful
closure and first phases of integration of Bayer's animal health business into Elanco. This included the completion of Elanco's
own IT operations and simultaneous build out of two Enterprise Resource Planning (ERP) systems to operate the standalone and newly
work done by Sarena's team to stand Elanco up as an independent company has helped us become a stronger, stable entity,"
said Jeffrey N Simmons, Elanco president and chief executive officer. "I want to thank Sarena for her valuable contributions
and wish her well. Because of the transformation work she led with her team, we are well positioned to begin the next phase of
As the integration enters its next phase, technology
and transformation work will streamline, localizing ownership of the structure and technology to ensure affiliates are equipped
to address the diverse needs of customers. Responsibility for finance and productivity initiatives related to the integration and
the IT organization will shift to Todd Young, chief financial officer.
These changes are a key milestone in Elanco's
progression through the Innovation, Productivity and Portfolio (IPP) strategy. As the company outlined at its first Investor Day
last month, the next phase of transformation will create shareholder value and increase productivity through:
Additionally, the company outlined near-term
growth drivers including:
"There has been a great deal of momentum
created as we move into 2021," Simmons continued. "We have been in a state of physical growth over the past few years,
and now we are shifting to nurture that growth and its investment to return even greater value for shareholders and customers alike."
Elanco Animal Health Incorporated (NYSE: ELAN) is a global
leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals
and pets, creating value for farmers, pet owners, veterinarians, stakeholders, and society as a whole. With nearly 70 years of
animal health heritage, we are committed to helping our customers improve the health of animals in their care, while also making
a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching
Life and our Elanco Healthy Purpose Sustainability/ESG Pledges - all to advance the health of animals, people, and
the planet. Learn more at www.elanco.com
Forward Looking Statement
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act
of 1995) about development and reflects Elanco's current belief. Forward-looking statements are based on our current expectations
and assumptions regarding our business and other future conditions. Because forward-looking statements relate to the future, by
their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As
a result, our actual results may differ materially from those contemplated by the forward-looking statements. For further discussion
of these and other risks and uncertainties, see Elanco's most recent filings with the United States Securities and Exchange
Commission. Except as required by law, Elanco undertakes no duty to update forward-looking statements to reflect events after the
date of this release.
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