8-KLeadership Changes

BRISTOL MYERS SQUIBB CO 8-K Report, Executive Changes (Sep 13, 2017)

Filed September 13, 2017For Securities:BMYCELG-RIBMYMP

Summary

Bristol-Myers Squibb Company (BMY) announced a change to its Board of Directors, effective January 1, 2018. The Board has elected Dr. Karen H. Vousden, a distinguished scientist with expertise in cancer research, as a new director. This appointment increases the Board's size to eleven members. Dr. Vousden's background in scientific leadership at prominent institutions like the Francis Crick Institute and Cancer Research UK is expected to bolster the company's focus on innovation and scientific advancement, particularly in oncology. Dr. Vousden has been deemed independent by both NYSE listing standards and the company's own criteria. She will also serve on the Science and Technology Committee, indicating a direct contribution to the company's strategic direction in research and development. Her compensation will align with the company's standard policy for non-employee directors, with an annual retainer and deferred share units, plus an additional retainer for her committee service.

Key Highlights

  • 1Election of Dr. Karen H. Vousden to the Board of Directors, effective January 1, 2018.
  • 2Board size will increase to eleven members.
  • 3Dr. Vousden brings significant scientific expertise in cancer research from her roles at the Francis Crick Institute and Cancer Research UK.
  • 4Dr. Vousden has been determined to be independent under NYSE and company standards.
  • 5She will serve on the Science and Technology Committee, effective January 1, 2018.
  • 6Standard director compensation applies, including an annual retainer and deferred share units, plus a committee retainer.

Frequently Asked Questions

The company is adding Dr. Karen H. Vousden to its Board of Directors to enhance its scientific expertise and strategic oversight, particularly in areas relevant to its research and development pipeline, such as oncology.

Dr. Vousden is a highly respected scientist with leadership roles at the Francis Crick Institute and Cancer Research UK. Her expertise is in cancer research, aligning with BMY's focus in this therapeutic area.

No, Dr. Vousden will receive compensation consistent with the company's standard compensatory arrangements for non-employee directors. This includes an annual retainer, deferred share units, and an additional retainer for her service on the Science and Technology Committee.

The Board of Directors has determined that Dr. Vousden is independent according to New York Stock Exchange Listing Standards and the company's own independence standards. There are no disclosed related party transactions between the company and Dr. Vousden.