Bristol-Myers Squibb names new CEO

Bristol-Myers Squibb (BMS) has announced that Lamberto Andreotti, 59, will become the company's chief executive officer on May 4, when James M Cornelius, 66, current chairman and CEO, retires. At the request of the board, Cornelius will remain as chairman. 

"Jim successfully led our transformation into a next-generation biopharma leader with his strategic leadership and consistent focus on delivering our commitments. I am personally grateful for this opportunity to lead Bristol-Myers Squibb in the next phase of our biopharma journey," said Lamberto Andreotti, who is currently president, chief operating officer and a member of the board.  

Lamberto has the full support of Cornelius, who said: "Lamberto has demonstrated extraordinary leadership as president and chief operating officer and I believe he is the natural candidate to replace me as CEO. I have a high level of confidence in Lamberto and that is shared by everyone who has seen him consistently and successfully drive performance."  

Andreotti has been president and chief operating officer since March 2009, responsible for the global pharmaceutical business. He has been with BMS for 12 years in senior international roles. Prior to this he held senior roles at KABI Pharmacia and Pharmacia & Upjohn.