Alphabet (GOOGL, GOOG) announced Anat Ashkenazi, the current executive vice president and CFO of Eli Lilly (LLY), will become the tech giant’s new CFO effective July 31. Mizuho senior analyst Jared Holz joins Yahoo Finance reporter Anjalee Khemlani to discuss the outlook on this decision.
Holz highlights the difficulty of simultaneously running a pharmaceutical business while delivering outstanding stock price performance, as Eli Lilly’s trajectory demonstrates. He states, "For a ‘Mag Seven’ name like Google to be interested is not all that surprising."
As for Ashkenazi’s qualifications to transition from the healthcare sector to the tech industry, Holz says, "I think just being able to navigate what has become an enormous company in Lilly … $800 billion of market cap, trumps every other peer by a pretty wide margin."
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