Cargill executive jumps ship, joins Elanco Animal Health

By Jane Byrne contact

- Last updated on GMT

© GettyImages
© GettyImages

Related tags: Animal health, Initial public offering

Sarena Lin, who, up to recently, oversaw Cargill's global animal feed and nutrition business, has moved to Elanco Animal Health, a division of Eli Lilly and Company.

She is joining that company's leadership team and reports to Elanco president, Jeffrey Simmons.

Lin’s role at the Indian headquartered company is senior vice president, North America Operations and Global Strategy.

She will manage the entirety of the company's US and Canadian food and companion animal businesses. Elanco said Lin would also oversee its global strategy “applying her extensive knowledge in corporate development to grow and strengthen Elanco's business.”

Elanco said Lin has a proven track record in leading and growing large, multi-national organizations. “Before her time as president at Cargill, she was the global head of strategy and business development there. She was a principal at McKinsey & Company and began her career at consumer package goods giant Proctor & Gamble (P&G).”

Strategic review

Elanco produces vaccines, antibiotics, feed additives and other health products for the dairy, beef, poultry, swine, aqua and pet food sectors.

Lilly has been building up the division the past few years, with it making several acquisitions on that front since 2007. In 2014, it took over all assets of Lohmann and its subsidiary, Lohmann Animal Health, including a range of vaccines and feed additives, commercial capabilities, and manufacturing sites in Germany and the US. Elanco also recently acquired Novartis Animal Health and BI Vetmedica’s US vaccines portfolio.

However, in October, Lilly CEO, Dave Ricks, announced a strategic review of the animal health division. The announcement came on the back of a challenging year for Elanco. While its third quarter sales were up 5% on the prior year, its year-to-date sales were down 1%.

 “Elanco has developed into a premier animal health company, and has been an important growth driver and source of revenue diversification for Lilly. Through acquisitions and organic growth, we've grown Elanco to a size and scale that now allows us to consider a variety of options to maximize future value,” ​said Ricks.

Lilly said it is reviewing a range of strategic alternatives for Elanco, including an initial public offering, merger, sale, or retention of the business; it said it would provide an update in the middle of 2018.

 

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