Bristol-Myers Squibb has selected its chief executive officer Giovanni Caforio to succeed Lamberto Andreotti as chairman of its board of directors from 2 May this year.
Caforio first joined BMS in 2000 as vice president and general manager of the company's operations in Italy, before taking on increasingly senior European positions.
He became senior vice president of global oncology and immunology in 2011, and was promoted to BMS' president of US pharmaceuticals later that year.
More recently, Caforio became an executive vice president and served as chief commercial officer and chief operating officer from 2013 and 2014, respectively.
Andreotti said: “Since being named chief executive officer, Giovanni has clearly demonstrated the capabilities needed to lead Bristol-Myers Squibb in the near and long term.
“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.”