Bristol-Myers Squibb CEO Caforio to add chairman to his title

NEW YORK — Bristol-Myers Squibb announced CEO Giovanni Caforio, M.D., will add chairman to his title. Caforio will assume the role on May 2, succeeding Lamberto Andreotti, who will retire as chairman.

Caforio has been chief executive officer of Bristol-Myers Squibb since May 2015 and has been serving on the company’s Board of Directors since June 2014.

“It is an honor to have the opportunity to build on the strong foundation established by Lamberto Andreotti,” said Caforio. “Bristol-Myers Squibb has tremendous opportunities for growth, highlighted by our leadership position in Immuno-Oncology and the opportunity to accelerate our diversified pipeline of transformational medicines. Working with the talented leaders and employees of this company, I look forward to further advancing our BioPharma strategy, and delivering transformational medicines that make a difference in the lives of patients around the world.”

Andreotti served as Bristol-Myers Squibb’s CEO from 2010 through May 2015 and will have served as Bristol-Myers Squibb’s chairman for two years when Caforio’s appointment becomes effective in May 2017.

“Since being named CEO, Giovanni has clearly demonstrated the capabilities needed to lead Bristol-Myers Squibb in the near and long term,” said Andreotti. “It was a pleasure working with Giovanni during this transition period, and I have full confidence that he will do what is needed to continue to deliver on the company’s mission and generate sustainable growth for our shareholders now and in the future.”