BMS names operating officer as new chief executive
pharmafile | January 21, 2015 | News story | Manufacturing and Production, Medical Communications, Research and Development, Sales and Marketing | BMS, Bristol-Myers Squibb, Giovanni Caforio, Lamberto Andreotti, Yervoy, opdivo
Bristol-Myers Squibb’s chief operating officer Giovanni Caforio will be stepping in to Lamberto Andreotti’s shoes as chief executive from May as he becomes executive chairman instead.
Caforio replaces 64-year-old Andreotti in a role he has held for five years, and the move spearheads a series of leadership changes being made at the US firm.
“I want to express my excitement that Giovanni has been appointed to succeed me as chief executive,” Andreotti says. “I have a high level of confidence in Giovanni that is shared by everyone who has seen him consistently and successfully drive performance. He has an unmatched breadth and depth of experience.”
The New York-headquartered firm says Caforio takes a range of experience to his new role, and as chief commercial and operating officer he led the transformation of its commercial organisation.
As a member of the company’s senior team since 2011 – and board of directors since 2014 – BMS adds he has been integral towards shaping the company’s move to being a diversified speciality biopharma outfit.
A trained doctor, Caforio began his career in medical affairs at Abbott Laboratories and joined BMS in 2000 as the vice president and general manager of its Italian market, earning his MD from the University of Rome prior to joining the pharma industry.
“I am honoured to have the privilege to lead this great company,” Caforio says. “I look forward to working with our very talented team of people at BMS to build on what we’ve accomplished, to deliver on the promise of our innovative portfolio and to continue to make a real difference for our patients.”
Other changes at BMS see James Cornelius choosing not to stand for re-election as non-executive chairman and retiring from the company. Also Togo West Jr is to become the lead independent director on its board.
Caforio will no doubt be pleased to be taking on the top job at a firm that is in good shape. Prospects for its cancer treatments Yervoy (ipilimumab) and the newly FDA-approved Opdivo (nivolumab) are looking positive.
It is also launching collaborations and even teaming up with rivals Lilly and Merck to test some of its compounds in combination with their cancer drugs – despite ongoing legal proceedings BMS began against the latter firm.
“This is an extraordinary company of talented people with incomparable passion and dedication to helping patients,” Cornelius says. “With Giovanni’s appointment as chief executive and Lamberto’s appointment as chairman, we ensure the continuation of both the leadership and strategy that have made BMS successful.”
Brett Wells
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