Bristol-Myers Squibb names new chief operating officer

Bristol-Myers Squibb has announced the appointment of  Dr Giovanni Caforio as its new chief operating officer, a role that will also seem him become a member of the firm's board of directors.

In addition to his current responsibilities as chief commercial officer, Dr Caforio will take leadership responsibility for the company-wide functions of enterprise services and global manufacturing and supply.

He has been with the company since 2000 and has served in positions of increasing importance, leading to him being credited with helping to build Bristol-Myers Squibb's leadership in immuno-oncology.

Prior to joining Bristol-Myers Squibb, Dr Caforio spent 12 years with Abbott Laboratories in a number of leadership positions.

Lamberto Andreotti, chief executive officer of Bristol-Myers Squibb, said: "I am very proud of Giovanni's appointment to the board of directors, a tremendous honour that recognises his commitment and contributions to our company."

Earlier this year, the firm topped a list of the best corporate citizens of 2014 compiled by Corporate Responsibility magazine, becoming the only business to ever achieve this feat three times.