Bristol Myers Squibb Announces Leadership Transition Plan with New CEO Appointment

On April 26, Bristol-Myers Squibb (BMS) announced a "leadership transition plan": Giovanni Caforio, currently 58 years old, will step down as Chief Executive Officer (CEO) on November 1, 2023, retaining only the position of Executive Chairman of the Board; Christopher Boerner, the Chief Commercial Officer (CCO), has been appointed as Chief Operating Officer (COO) with immediate effect and will assume the role of CEO on November 1, succeeding Caforio; Adam Lenkowsky, head of core markets, has been appointed as CCO, effective immediately.

Caforio is a veteran of more than 23 years at Bristol-Myers Squibb (BMS), which is the second company he has worked for in his career. He joined BMS in 2000 as Vice President and General Manager of the Italian branch, then led the global oncology team, and helped establish BMS's leadership position in the field of immuno-oncology.

Giovanni Caforio

Caforio was born in Italy, graduated from the University of Rome, and obtained a doctorate in medicine. Before joining BMS, he worked at Abbott Laboratories for 12 years, primarily responsible for medical and market-related work.

Christopher Boerner

Incoming CEO Christopher Boerner joined BMS in February 2015, initially serving as the head of the U.S. commercial market, overseeing sales and marketing, government affairs, and market access in the U.S. He was later promoted to lead the international markets and has served as the company’s CCO since August 2018.

Before joining BMS, Boerner held an executive position at Seattle Genetics (the predecessor of Seagen). Prior to that, he served as the head of marketing at Genentech, a subsidiary of Roche, where he led market development and commercialization strategies for multiple oncology and immunology products. Even earlier, he worked at McKinsey, primarily providing consulting services to global pharmaceutical and biotechnology clients.

Boerner holds a Master's and Ph.D. in Business Administration from the Haas School of Business at the University of California, Berkeley, as well as a Bachelor’s degree in Economics and History from Washington University in St. Louis. The BMS Board also intends to appoint Boerner as a board member following the Annual General Meeting.

Adam Lenkowsky

Taking over Boerner's position as Chief Operating Officer is Adam Lenkowsky, head of BMS's core markets, who has been with BMS for over 18 years.

Notably, since the second half of 2022, several large biopharmaceutical companies, including Roche, Bayer, Biogen, Astellas, Teva, Viatris, and Seagen, have appointed new CEOs.

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