Bristol-Myers Squibb elects new member of board of directors

Bristol-Myers Squibb has elected Dr Elliott Sigal as the newest member of its board of directors.

Dr Sigal, who has served as the company's executive-vice president, chief scientific officer and president for research and development since 2004, will also become a member of the board's science and technology committee.

Since joining Bristol-Myers Squibb from Applied Genomics in 1997, the new board member has been credited with playing a key role in the progress of its research efforts.

Under his leadership as chief scientific officer, the company has achieved eight new drug approvals and could attain a further five by 2012.

Lamberto Andreotti, chief executive officer of Bristol-Myers Squibb, said: "Elliott's election to our board recognises the importance of research and development to our strategy and our success as a biopharmaceutical company."

Last month, the company published its financial report for the 2010 full-year period, during which it achieved an annual sales total of $19.48 billion (11.97 billion pounds).