8-KLeadership ChangesExhibits & Filings

BRISTOL MYERS SQUIBB CO 8-K Report, Executive Changes (Aug 28, 2018)

Filed August 28, 2018For Securities:BMYCELG-RIBMYMP

Summary

Bristol-Myers Squibb Company (BMY) announced a key executive appointment in an 8-K filing dated August 28, 2018. Christopher Boerner, Ph.D., has been appointed Executive Vice President and Chief Commercial Officer, effective August 28, 2018. This promotion signifies a strategic move within the company's leadership, bringing in an executive with extensive experience in commercial operations within the biopharmaceutical industry. Mr. Boerner's background includes significant roles at BMY, most recently as head of international markets, and prior to that, leading the U.S. commercial organization. His previous experience at Seattle Genetics and Dendreon, along with his tenure at Genentech, demonstrates a deep understanding of commercial strategy and market development in the sector. Investors should view this appointment as a positive development, indicating continuity and experienced leadership in a critical commercial function for the company's revenue generation and market presence.

Key Highlights

  • 1Appointment of Christopher Boerner, Ph.D. as Executive Vice President and Chief Commercial Officer, effective August 28, 2018.
  • 2Mr. Boerner has a strong track record in commercial roles at Bristol-Myers Squibb, including Head of International Markets and Head of U.S. Commercial Organization.
  • 3His prior experience includes significant commercial leadership positions at Seattle Genetics, Dendreon, and Genentech.
  • 4Mr. Boerner's compensation package includes an annual base salary of $835,000.
  • 5He is eligible for an annual incentive payout with a target of 100% of his base salary, contingent on performance goals.
  • 6Mr. Boerner will participate in the company's long-term incentive award program, including performance and market share units.
  • 7He will receive standard change-in-control and severance benefits applicable to other executive officers.

Frequently Asked Questions

Christopher Boerner, Ph.D. has been appointed as the Executive Vice President and Chief Commercial Officer, effective August 28, 2018.

Mr. Boerner has extensive commercial experience, most recently serving as Head of International Markets at Bristol-Myers Squibb. He previously led the U.S. commercial organization and held significant roles at Seattle Genetics, Dendreon, and Genentech.

Mr. Boerner will receive an annual base salary of $835,000, with eligibility for an annual incentive payout targeted at 100% of his base salary, and participation in long-term incentive awards. He will also receive standard change-in-control and severance benefits.

The filing states that Mr. Boerner is not a party to any arrangements regarding his selection, and there are no family relationships or related party transactions between him and the Company's directors or executive officers.