Raft of senior management changes at Bristol-Myers Squibb

To support its ongoing success as a BioPharma leader, US drug major Bristol-Myers Squibb (NYSE: BMY) says it is evolving its business model, creating a global integrated commercial organization and expanding the scope of its finance organization, and has announced a series of related changes within its senior management team.

Giovanni Caforio has been appointed executive vice president and chief commercial officer, a newly created position in which he will lead all of the company’s commercial units across all geographies. Mr Caforio, who was most recently president, US, will be responsible for the global commercial strategy of the company and for the performance of the company’s commercial operations worldwide.

Charles Bancroft, executive vice president and chief financial officer, will take on an expanded role that includes the business development and strategy groups. He will be responsible for developing an integrated approach to finance, business development and strategy that will enhance the company’s effectiveness in meeting its long-term goals.