Bristol leadership search
This article was originally published in The Tan Sheet
Executive Summary
Bristol-Meyers Squibb's search for a new CEO may be complicated by the widespread belief the company is an acquisition target. Bristol's board announced the termination of CEO Peter Dolan and General Counsel Richard Willard Sept. 12, following the failed settlement agreement with Apotex over Bristol's antithrombotic Plavix that prompted an investigation by the Department of Justice. James Cornelius, a former interim CEO of Guidant, was appointed interim CEO and VP by the board; he told the board he does not consider himself a candidate for the permanent position. Chairman James Robinson said during a Sept. 12 media call announcing Dolan's termination that the firm would "deal with any bona fide proposals that anybody wants to make," fueling acquisition speculation...
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