12 février, 2008 12:30
Bristol-Myers Names Cornelius Chairman
Associated Press 02.12.08, 10:28 AM ET
NEW YORK -
Bristol-Myers Squibb Co. said Tuesday its board elected Chief Executive James M. Cornelius as chairman.
Cornelius, who joined the board in 2005, was named CEO in April 2007 after serving as interim chief since Sept. 2006. He will continue to serve in that role, the pharmaceutical company said. Subsequently, Cornelius' current employment contract, which was set to expire in May 2009, will be terminated.
James D. Robinson III has resigned as non-executive chairman, a position he held since June 2005. He will remain a director until May 2008, when he will retire pursuant to the board's mandatory age retirement policy, Bristol-Myers said.
The New York-based company also named Lewis B. Campbell, chairman, president and CEO of Textron Inc., as lead independent director.
Shares gained 29 cents to $23.24 in morning trading.
