NEW YORK: Bristol Myers Squibb (NYSE: BMY) today announced that its Board of Directors has unanimously elected Christopher Boerner, Ph.D., to serve as Chair of the Board, effective April 1, 2024. He succeeds Giovanni Caforio, M.D., who will step down as Chair of the Board on April 1, 2024 and retire from the company after 23 years of service.

Boerner was named Executive Vice President, Chief Operating Officer and CEO-elect on April 26 and will become Chief Executive Officer of Bristol Myers Squibb on November 1, 2023.

“I am honored to become CEO and later Board Chair,” said Boerner. “Giovanni has strengthened Bristol Myers Squibb’s legacy of innovation and pioneering new treatments. I am grateful for the tremendous impact he has had on our organization over the past 23 years.”

“It has been a privilege to help write a chapter in this company’s storied history,” said Caforio. “We have made incredible progress in discovering and delivering medicines that really matter to patients and I am confident that under Chris, Bristol Myers Squibb will continue its legacy of bringing transformational medicines to even more patients in need.”

“I want to thank and congratulate Giovanni for a successful eight-year tenure as CEO of Bristol Myers Squibb,” said Theodore R. Samuels, Lead Independent Director of Bristol Myers Squibb. “Giovanni will continue to excel as our Executive Chairman in ensuring a smooth transition. As Chris takes the reins as CEO, and ultimately Chair of the Board next April, he has the respect and admiration of our entire team. Bristol Myers Squibb is going from strength to strength.”

Summary

Christopher Boerner will become CEO of Bristol Myers Squibb on November 1, 2023 and Chair of the Board on April 1, 2024.

Giovanni Caforio will step down as CEO on November 1, 2023 and retire from the company on April 1, 2024 after 23 years of service.

Caforio will continue to serve as Executive Chairman to ensure a smooth transition.