Bristol-Myers Squibb is rearranging the top of its org chart. The biggest change: Bristol tapped COO Lamberto Andreotti (photo), 58, as president and COO, and added him to the board of directors. That's raising speculation that Andreotti is also the chosen heir to CEO Jim Cornelius (photo). As the Wall Street Journal points out, Andreotti was one of the execs competing for the top job when Cornelius won it.
Meanwhile, the company created a senior leadership council that comprises Cornelius, Andreotti, CFO Jean-Marc Huet (photo) and Chief Scientific Officer and R&D chief Elliot Sigal (photo). "This group will chart the future for Bristol-Myers Squibb," Cornelius said in a company statement.
Huet also got a promotion, to EVP and CFO. Another five managers got new titles and responsibilities as well, including Anthony Hooper (photo), named president for the Americas; John Celentano (photo), president for emerging markets and the Asia-Pacific region; and Beatrice Cazala (photo), president both of global commercialization and the European market.
Back when Cornelius got the CEO post in 2007, he was intended to be a short-termer with plans to make an exit after this year's annual meeting in May, the WSJ reports. Now, though, Bristol says Cornelius has no "term limit," but "Lamberto's new position and his seat on the board convey our confidence in his leadership."
- see the Bristol statement
- read the story from AP
- check out the WSJ article