BMS appoints Giovanni Caforio as chief commercial officer

Bristol-Myers Squibb has appointed Giovanni Caforio to the newly-created position of chief commercial officer as it makes several changes to its senior management team.

Caforio, who also becomes an executive vice president at the company, will lead all of BMS' commercial units and have responsibility for its global commercial strategy and performance.

Most recently president of BMS' US operations, Caforio joined the company in 2000 as vice president and general manager for Italy and steadily gained increasing responsibility within Europe.

Prior to moving to BMS Caforio spent 12 years with Abbott Laboratories in a number of leadership positions.

Alongside the changes to Caforio's role BMS has also expanded the position of its chief financial officer Charles Bancroft, who gains responsibility for developing an integrated approach to finance, business development and strategy.

The changes come shortly after BMS announced changes to its long-term research strategy that will see it exit 'broad-based discovery work' in neuroscience, hepatitis C and diabetes.

Caforio and Bancroft will continue to report to CEO Lamberto Andreotti and will remain members of the senior management team.

Andreotti said: “By evolving our organisation and expanding the roles of Giovanni and Charlie, I feel even more confident in the strength of my management team and our ability to take advantage of the most critical opportunities to build long-term sustainable growth.”

Other changes at BMS will see senior vice president, US oncology Murdo Gordon take up the post of president, US, reporting to Caforio.

Meanwhile, Beatrice Cazala, executive vice president, commercial operations in charge of global commercialisation, Europe and China is, BMS said, in the process of transitioning to a new role within the company.