8-KLeadership ChangesExhibits & Filings

BRISTOL MYERS SQUIBB CO 8-K Report, Executive Changes (Jan 24, 2012)

Filed January 24, 2012For Securities:BMYCELG-RIBMYMP

Summary

Bristol-Myers Squibb Company (BMY) announced in its January 24, 2012, 8-K filing that it has elected Gerald L. Storch to its Board of Directors, effective immediately. Mr. Storch brings significant executive experience, currently serving as Chairman and CEO of Toys“R”Us, Inc. His appointment increases the Board size to twelve members. Mr. Storch has been deemed independent by the Board and will serve on both the Audit Committee and the Compensation and Management Development Committee. This addition aims to bring valuable external perspective and expertise to the company's governance and strategic oversight. Investors should note that Mr. Storch will be subject to standard compensation arrangements for non-employee directors.

Key Highlights

  • 1Gerald L. Storch elected to the Board of Directors, effective January 23, 2012.
  • 2Board size increased to twelve members upon Mr. Storch's election.
  • 3Mr. Storch is Chairman and CEO of Toys“R”Us, Inc., bringing retail executive experience.
  • 4Mr. Storch has been determined to be independent under NYSE and company standards.
  • 5Mr. Storch appointed to the Audit Committee and the Compensation and Management Development Committee.
  • 6He will stand for election by stockholders at the May 2012 Annual Meeting.
  • 7Mr. Storch's compensation includes an $85,000 annual retainer and $140,000 in deferred share units.

Frequently Asked Questions

Gerald L. Storch has been elected to the Board of Directors of Bristol-Myers Squibb, effective immediately. He currently serves as the Chairman and Chief Executive Officer of Toys"R"Us, Inc., bringing substantial executive leadership experience to the board.

Yes, the Board of Directors has determined that Mr. Storch is independent under the New York Stock Exchange Listing Standards and the independence standards adopted by the Board of Directors.

Mr. Storch has been appointed to serve as a member of the Audit Committee and the Compensation and Management Development Committee.

Mr. Storch will receive compensation in accordance with the company's standard arrangement for non-employee directors, which includes an annual retainer of $85,000 and an annual award of deferred share units valued at $140,000 on the date of grant.