On Wednesday, Eli Lilly And Co (LLY  ) announced that Anat Ashkenazi has resigned as chief financial officer to pursue a career opportunity outside of the pharmaceutical industry.

Ms. Ashkenazi will continue to serve at full capacity in her role and as a member of Lilly's Executive Committee through July 2024. An internal and external search for her successor is underway.

Ashkenazi has had a 23-year career at Eli Lilly, including three years as the CFO.

Google parent Alphabet Inc (GOOGL  ) (GOOG  ) announced that Anat Ashkenazi will join its management team as Chief Financial Officer and Senior Vice President of Google and Alphabet, effective July 31, 2024.

CNBC noted that the leadership transition has been planned for a while.

The company had previously announced in July 2023 that Ruth Porat was commencing a new role as President & Chief Investment Officer of Alphabet and Google. She will continue as CFO until Anat starts, including through the company's Q2 earnings.

"We're very pleased to have found such a strong CFO, with a track record of strategic focus on long-term investment to fuel innovation and growth," said Sundar Pichai.

Google's finance unit has been undergoing significant changes in recent months. Earlier this year, CFO Ruth Porat announced a restructuring to prioritize AI investments, which involved layoffs and relocations affecting global teams, according to CNBC.

Price Action: GOOGL shares are up 1.20% at $175.88 at the last check on Wednesday.