Bristol-Myers Squibb said Wednesday morning that chief executive officer Giovanni Caforio will also serve as chairman of the Board of Directors, effective May 2. Caforio will take over for Chairman Lamberto Andreotti, who is retiring. Caforio has been CEO since May 2015 and has been a member of the board since 2014. Bristol-Myers Squibb shares rose a scant 0.8% in pre-market trade. Shares have dropped 14.1% year-to-date, compared with a 11.1% rise in the S&P 500 .
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