Gio­van­ni Caforio to step down as Bris­tol My­ers CEO, with Chris Boern­er named suc­ces­sor

Gio­van­ni Caforio will step down as Bris­tol My­ers Squibb’s CEO on Nov. 1, the New York phar­ma gi­ant said Wednes­day, as part of a broad­er lead­er­ship shake­up.

Caforio, 58, has worked at Bris­tol My­ers since 2000 and has served as CEO since May 2015, over­see­ing a pe­ri­od of growth that in­clud­ed the $74 bil­lion ac­qui­si­tion of Cel­gene. When he steps down lat­er this year, Caforio will serve as ex­ec­u­tive chair­man, ac­cord­ing to a news re­lease, and Chris Boern­er will take the reins as the next CEO of the $143 bil­lion com­pa­ny. Boern­er has been BMS’ chief com­mer­cial­iza­tion of­fi­cer, with the phar­ma nam­ing him chief op­er­at­ing of­fi­cer ef­fec­tive im­me­di­ate­ly.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER