Rather than announce a company wide change in pension benefit, it's possible that the initial change will be made with Elanco - since a spinoff or sale is planned and will be announced soon. With a split from Lilly, their pension can be changed from defined benefit to defined contribution. This was the approach the company followed when the medical device companies were spun off to create Guidant in the mid-90s.
The experienced and long serving VP of compensation and benefits (initials LB) took a personal leave of absence and a newbie with limited C&B experience (initials JK) was promoted to this role. Maybe LB decided to take time off when this disastrous change will be implemented. No matter, Dave Ricks and Steve Fry will smile and tell everyone that this is what employees are asking for!
buzzing around corporate of a big announcement coming in July, is it the benefit change or Elanco Sell?
