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Eli Lilly announced that EVP and CFO Anat Ashkenazi is leaving the pharma giant to serve as CFO and SVP of Google and Alphabet.

The move was announced Wednesday morning and will be made official on July 31.

Ashkenazi will continue to serve in her role as CFO and as a member of the company’s executive committee through the end of July. Lilly noted that it is conducting an internal and external search for her successor.

Ashkenazi has been with Lilly for more than two decades and served as SVP, controller and CFO of Lilly Research Laboratories as well as CFO of the drugmaker’s oncology, diabetes, global manufacturing and quality, and research and development segments prior to taking the helm of financial operations.

During the most recent part of her tenure, she has led Lilly through a period of growth due to the unprecedented demand for its GLP-1 drugs Mounjaro and Zepbound.

In the Q1, Lilly’s revenue rose 26% to $8.7 billion, with Mounjaro generating $1.8 billion in revenue — up from $568.5 million in Q1 2023 — while Zepbound brought in $517.4 million.

Ultimately, Lilly’s net income increased 67% to $2.2 billion and the drugmaker raised its full year revenue guidance by $2 billion to the range of $42.4 billion to $43.6 billion.

Over the course of this strong financial performance by the company, Ashkenazi has also been well-compensated, earning $7.5 million in 2023, per the drugmaker’s financial filings.

“On behalf of our board of directors, leadership team and employees, I would like to thank Anat for her 23 years of outstanding service to our company,” Lilly CEO David A. Ricks said in a statement. “During her last three years as Lilly’s CFO, we have experienced tremendous growth and laid the groundwork to help us reach even more patients with our medicines. I want to personally thank Anat for her partnership, friendship, and leadership of our financial organization and to wish her well in her new role.”

News of Ashkenazi’s departure comes one day after Lilly announced that Melissa Seymour, who currently serves as the chief quality officer for Bristol Myers Squibb, would join as EVP of global quality. The two will have a brief overlap period as Seymour begins her new role on July 22.

As for Alphabet, Ashkenazi succeeds Ruth Porat, who is wrapping up her stint as CFO before taking on the role of president and chief investment officer of Alphabet and Google.

In this position, Ashkenazi will be based in the Bay Area and report to Alphabet and Google CEO Sundar Pichai.

“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,” Pichai said in a statemet. “The AI era is giving us an incredible opportunity to innovate at scale across our core products, and to create entirely new products and experiences for our users and customers. I look forward to working with Anat as we invest responsibly to support our next wave of growth.”