Earlier this week, the Board of Directors of Bristol-Myers Squibb Company (NYSE: BMY) have announced that Peter R. Dolan will leave the position of chief executive officer, effective immediately.
James M. Cornelius, a director of the company since January 2005 and chairman emeritus of Guidant Corporation, was appointed to act as interim chief executive officer.
According to James D. Robinson III, chairman of the Board, Bristol-Myers Squibb:
"Jim's extensive experience in the healthcare arena will be critical in ensuring a smooth transition of leadership of this great company. I also want to express my deep appreciation and respect for Peter for his unyielding commitment to our company's mission, values and purpose, and for his many impressive achievements in developing and executing a successful strategy that has put Bristol-Myers Squibb squarely on a path toward growth and leadership for the future."
A search committee to review inside and outside candidates for the position of chief executive officer of the company will be chaired by Mr. Robinson.
In addition, Richard K. Willard will leave the position of senior vice president and general counsel, effective immediately, as announced by the Board as well. Meanwhile, Sandra Leung, vice president and corporate secretary, was appointed to act as interim general counsel.
Read more details from the Bristol-Myer Squibb press release.
Comment Preview