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Eli Lilly: CEO Lechleiter will have aorta surgery

INDIANAPOLIS (AP) -- Drugmaker Eli Lilly & Co. said Tuesday that President, CEO and Chairman John Lechleiter will have surgery for a dilated aorta on Monday.

The company said the condition was discovered during unrelated testing and Lechleiter has not experienced any symptoms. Lilly said Lechleiter is expected to make a full recovery and should resume all of his responsibilities later this summer.

Chief Financial Officer Derica Rice will serve as acting CEO while Lechleiter recovers, and Ellen Marram will be acting chairwoman.

Rice, 48, has worked for the company for more than 22 years and was named finance chief in 2006. He was also put charge of Lilly's global services operation in 2010.

Marram, 66, has been on the board since 2002 and was appointed lead independent director in April 2012. She is president of is the business advisory firm the Barnegat Group LLC