Bristol-Myers Squibb appoints new board member

Global healthcare giant Bristol Myers-Squibb confirmed that its board of directors has nominated another member to join its panel.

Former Ernst & Young vice-chairman Michael Grobstein has been elected to the board to serve as part of the audit committee and his appointment takes immediate effect from this week.

Mr Grobstein has previously occupied the chairman position on an audit committee at Guidant until its takeover by Boston Scientific and he currently works on the board of Given Imaging.

“Bristol-Myers Squibb will benefit greatly from Mike’s breadth of financial and business experience,” commented James D Robinson, chairman at the US-based pharmaceutical company.

He added: “We are looking forward to his expertise and insight as a key member of the audit committee.”

Also this week, the healthcare firm’s board of directors announced that stockholders will receive their quarterly dividends of 28 cents per share at the beginning of May this year.

In addition, the company stated that a payout of 50 cents per share on the $2 convertible preferred stock issues will be made available to the relevant parties of record at the close of trading on May 4th 2007 and will be sent out from June 1st 2007.