Bristol-Myers Squibb’s (BMS’) board of directors has appointed Giovanni Caforio, MD, as chairman of the board, effective May 2, 2017. Caforio, who will continue to serve as chief executive officer (CEO), will succeed current chairman, Lamberto Andreotti, who has announced his plan to retire.

Andreotti served as BMS’ CEO from 2010 through May 2015 and will have served as BMS’ chairman for two years when Caforio’s appointment becomes effective in May 2017. Dr. Caforio has been CEO of BMS since May 2015 and has been serving on the company’s board of directors since June 2014.

Prior to becoming CEO, Dr. Caforio served as chief operating officer with responsibility for leading a fully integrated worldwide commercial organization and the companywide functions of enterprise services and global manufacturing & supply. This was preceded by his work as the company’s chief commercial officer.

Source: Bristol-Myers Squibb