Bristol-Myers Squibb now has a permanent CFO, but he's not new. It's Charles Bancroft, who's been doing the job on an interim basis since the beginning of the year. Bancroft now bears the official CFO title, and he'll report to Lamberto Andreotti (photo), the current COO who takes over as chief executive next month. He replaces Jean-Marc Huet (photo), who left BMS in December.
Bancroft joined BMS in 1984, and he's been moving up the finance side ever since. He's served the company overseas and taken on senior jobs in its global pharma business and at ConvaTec, the wound care unit sold off in 2008. Most recently, he was VP of finance for the pharma unit. He's a CPA with an MBA from Temple University.
BMS is just the latest Big Pharma to name a new CFO. Over the last several years, new execs have taken the finance reins at Pfizer, Sanofi-Aventis, Novartis and AstraZeneca.
BMS' Cornelius to retire, Andreotti named CEO
Is Lilly CFO's promotion a succession plan?