Bristol-Myers Squibb Names Caforio CEO, Andreotti To Become Chairman

Bristol-Myers Squibb Co BMY named Giovanni Caforio chief executive effective May 5 to replace Lamberto Andreotti who will retire.

Caforio, 50, currently chief operating officer, has been a member of Bristol-Myers' senior management since 2011 and the company's board since 2014.

Andreotti, 64, will retire as CEO and is expected to be elected chairman of the company in May, replacing James M. Cornelius who will retire from the board.

Bristol-Myers was little changed in the extended session, changing hands recently at $62.45.