Giovanni Caforio Named Chairman of Bristol-Myers Squibb’s Board of Directors

NEW YORK–(BUSINESS WIRE)– Bristol-Myers
Squibb Company (NYSE:BMY) today announced that the company’s Board
of Directors has appointed Giovanni
Caforio, M.D. as chairman of the board, effective May 2, the date of
the company’s annual meeting of shareholders. Caforio, who will continue
to serve as chief executive officer, will succeed current Chairman Lamberto
Andreotti, who has announced his plan to retire.

“It is an honor to have the opportunity to build on the strong
foundation established by Lamberto Andreotti,” said Caforio.
“Bristol-Myers Squibb has tremendous opportunities for growth,
highlighted by our leadership position in Immuno-Oncology and the
opportunity to accelerate our diversified pipeline of transformational
medicines. Working with the talented leaders and employees of this
company, I look forward to further advancing our BioPharma strategy, and
delivering transformational medicines that make a difference in the
lives of patients around the world.”

“Since being named CEO, Giovanni has clearly demonstrated the
capabilities needed to lead Bristol-Myers Squibb in the near and long
term,” said Andreotti. “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.”

Togo
D. West, Jr., the board’s lead independent director, said, “Since
becoming CEO last year, Giovanni has demonstrated strong leadership and
a commitment to the company’s patient-focused mission and culture of
integrity and ethics. Giovanni’s depth of experience, knowledge and deep
understanding of the industry make him the right person for the
chairmanship.”

“I also want to thank Lamberto for his many years of service to the
company and for serving as chairman. As a valued and trusted leader, he
played a critical role in the company’s transformation to a BioPharma
leader and in shaping the strategy that continues to guide the company
today.”

Andreotti served as Bristol-Myers Squibb’s chief executive officer from
2010 through May 2015 and will have served as Bristol-Myers Squibb’s
chairman for two years when Caforio’s appointment becomes effective in
May 2017. Under Andreotti’s leadership, Bristol-Myers Squibb
successfully transformed into a leader in the BioPharma industry, one
known for its robust pipeline and portfolio of innovative medicines,
including the increasingly promising portfolio of Immuno-Oncology
medicines that are transforming the treatment of cancer today.

Caforio has been chief executive officer of Bristol-Myers Squibb since
May 2015 and has been serving on the company’s Board of Directors since
June 2014. As CEO, Caforio has led the company’s focus on researching
and developing transformational medicines, which includes a leading
portfolio of immunotherapies that are fundamentally changing the way
patients live with cancer. With a background as a physician, Caforio has
helped strengthen the company’s patient-focused culture — one driven by
innovation, speed, accountability and passion.

Prior to becoming CEO, 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.

Born and educated in Italy, Caforio received his M.D. from the
University of Rome.

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information about
Bristol-Myers Squibb, visit us at BMS.com
or follow us on LinkedIn,
Twitter,
YouTube
and Facebook.

Image may be NSFW.
Clik here to view.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161221005388/en/