8-KLeadership ChangesExhibits & Filings

BRISTOL MYERS SQUIBB CO 8-K Report, Executive Changes (May 20, 2021)

Filed May 20, 2021For Securities:BMYCELG-RIBMYMP

Summary

Bristol Myers Squibb Company (BMY) announced a change to its Board of Directors, electing Dr. Manuel Hidalgo Medina to serve as a director effective June 1, 2021. This expansion brings the Board size to eleven members. Dr. Hidalgo brings extensive expertise in translational and clinical research, particularly in anticancer drug development and gastrointestinal cancers. His appointment is expected to strengthen the Board's scientific and technological capabilities, especially given his significant experience leading oncology divisions at prominent medical institutions and his role on the Science and Technology Committee. Investors should note that Dr. Hidalgo is considered independent according to NYSE listing standards and the company's own policies. His compensation will align with the company's standard arrangements for non-employee directors, including a cash retainer and deferred share units. This strategic addition suggests a continued focus on innovation and growth within the company's oncology pipeline.

Key Highlights

  • 1Election of Dr. Manuel Hidalgo Medina, M.D. to the Board of Directors, effective June 1, 2021.
  • 2Board size increased to eleven members.
  • 3Dr. Hidalgo possesses over 20 years of experience in anticancer drug development, with a focus on gastrointestinal cancers.
  • 4He currently serves as Chief of Hematology and Medical Oncology at Weill Cornell Medicine and New York Presbyterian/Weill Cornell Medical Center.
  • 5Dr. Hidalgo will serve as a member of the Science and Technology Committee.
  • 6The Board has determined Dr. Hidalgo is independent under NYSE and company standards.
  • 7Standard compensation for non-employee directors will be provided, including a $100,000 annual retainer and $190,000 in deferred share units.

Frequently Asked Questions

Dr. Hidalgo's appointment to the Board of Directors brings significant expertise in oncology drug development, particularly in gastrointestinal cancers. This addition is likely to enhance the Board's strategic oversight and decision-making in areas crucial to Bristol Myers Squibb's research and development pipeline.

With his extensive background in clinical research, leading oncology divisions, and experience in early-stage drug development, Dr. Hidalgo is expected to provide valuable insights to the Science and Technology Committee and the broader Board, potentially guiding innovation and strategic investments in cancer therapies.

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

Dr. Hidalgo will receive compensation in line with the company's standard arrangements for non-employee directors. This includes an annual retainer of $100,000 and an annual award of deferred share units valued at $190,000 on the date of grant.