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Bristol’s Next CEO Is Caforio, Tasked With Leading Immuno-Oncology Charge

 
• By Lisa LaMotta

Bristol CEO Lamberto Andreotti will step down as CEO in May but remain as chairman of the board, making way for insider Giovanni Caforio to take over the top slot. His task will be overseeing Bristol’s transition to a commercial-stage immuno-oncology powerhouse.

Bristol-Myers Squibb Co. has appointed Chief Operating Officer Giovanni Caforio to be the company’s next chief executive in its bid to become the industry’s leading immuno-oncology player. He will succeed CEO Lamberto Andreotti effective May 5 in what appears to be a well-planned succession strategy.

Andreotti, who has served as CEO since May 2010, will take over as chairman of the board, replacing his predecessor James Cornelius, the architect of Bristol’s pure-play biopharma strategy, which...

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