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Chief Operating Officer Christopher Boerner will take up the role from Nov. 1. He was previously head of international markets and has served in leadership roles at Seattle Genetics (NASDAQ:SGEN) Inc and Roche’s Genentech among others.
Outgoing CEO Giovanni will continue as executive chairman of the company’s board. The company also appointed Adam Lenkowsky as chief commercial officer.
Caforio’s biggest move as chief executive was the company’s $74 billion buyout of Celgene (NASDAQ:CELG) in 2019, which boosted the company’s revenue as sales of its top-selling cancer drug Opdivo slowed due to stiff competition from Merck’s Keytruda.
Bristol Myers (NYSE:BMY) is due to report first-quarter financial results on Thursday.
Bristol Myers shares rose 0.39% to $68.29 in after-hours trading.
