James Cornelius

Bristol-Myers Squibb to Replace CEO

Bristol-Myers Squibb Co.

(BMY) announced Tuesday that its James Cornelius , the company’s four-year chief executive officer will retire in May, at the age of 66.The pharmaceutical giant said its President and Chief Operating Officer, Lamberto Andreotti, 59, who also sits on the company’s board of directors, will replace the Cornelius in the position."I have a high level of confidence in Lamberto and that is shared by everyone who has seen him consistently and successfully drive performance," said Cornelius. "Lamberto's deep knowledge and insight of the BioPharma strategy make him the ideal leader as we transform into an industry benchmark. He has the full support of our leadership team and the Board of Directors."Shares of Bristol rose 33 cents or 1.35% on Tuesday to close the session at $24.72 a share. The stock was inactive in after-hours trading....

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