Bristol-Myers Squibb Strengthens Senior Management Team to Support Growth Strategy

- Frederick Schiff Promoted to CFO;

Donald Hayden to Oversee Investor Relations -



- Richard Lane Becomes EVP; John McGoldrick Assumes Policy Role -



Apr 02, 2001, 01:00 ET from Bristol-Myers Squibb Company

    NEW YORK, April 2 /PRNewswire/ -- Bristol-Myers Squibb Company (NYSE:   BMY)
 today announced key leadership appointments intended to accelerate its plan to
 double sales, earnings and earnings-per-share by 2005 through greater emphasis
 on its pharmaceuticals and related healthcare businesses.  The company
 unveiled its medicines-based "Strategy for Growth" last September, and has
 been aligning a senior management team in support of this objective, beginning
 with the announcement on February 7th that Peter R. Dolan, president, will
 succeed Charles A. Heimbold, Jr., chairman and chief executive officer, as
 CEO, effective May 1st.
     "Today's announcement reflects our continued focus on a smooth and orderly
 transition of the senior leadership at Bristol-Myers Squibb," said
 Mr. Heimbold.  "Peter Dolan and I are continuing to develop an outstanding
 team of dynamic leaders -- all with strong experience in pharmaceutical and
 our related businesses -- who will help us capitalize on the opportunities and
 manage the challenges facing our company and our industry in this exciting new
 era."  Mr. Heimbold earlier announced his intention to retire as chairman
 later this year.
 
     -- Frederick S. Schiff, 53, is promoted to senior vice president and chief
        financial officer of Bristol-Myers Squibb.  A 19-year veteran of the
        company, Mr. Schiff served most recently as senior vice president,
        Finance, and comptroller.  He now assumes responsibility for Tax,
        Treasury, Control, Information Management, Global Business Services and
        Productivity.
 
     -- Donald J. Hayden, Jr., 45, executive vice president, will assume
        responsibility for Investor Relations and Corporate Intelligence,
        working with Timothy P. Cost, 41, who is promoted to vice president,
        Investor Relations and Corporate Intelligence.  Mr. Hayden will
        continue to be responsible for Strategy and E-Business, as well as the
        company's Mead Johnson Nutritionals business.  He is a former president
        of the Worldwide Medicines Group with 20 years of experience at
        Bristol-Myers Squibb.
 
     -- Richard J. Lane, 50, president of the Worldwide Medicines Group, will
        become an executive vice president of Bristol-Myers Squibb.  Mr. Lane
        earlier served as president, U.S. Pharmaceuticals Group, and has more
        than 20 years of experience in the pharmaceutical industry, with the
        last five years at Bristol-Myers Squibb.
 
     -- John L. McGoldrick, 60, executive vice president, general counsel, and
        president of the Medical Devices Group, will assume additional
        responsibility for Global Policy.  He will focus on the policy issues
        affecting the company and industry, including pricing, intellectual
        property rights and access to medicines in the U.S. and in
        international markets.  Mr. McGoldrick will continue to oversee the
        company's $115 million "Secure the Future" initiative to address the
        HIV/AIDS crisis in Africa.
 
     -- Peter S. Ringrose, Ph.D., 55, will continue as chief scientific
        officer, overseeing the scientific and research activities of the
        company and updating senior management and the Board of Directors on
        progress on science and technology matters.  He will also continue as
        president of the Pharmaceutical Research Institute.
 
     "Our company's future success is tied not only to great science and
 superior marketing, but also to outstanding leadership," said Mr. Dolan.
 "These leaders have achieved impressive results in our core medicine and
 related healthcare businesses, and offer the vision, skills and energy
 required to reach our MegaDouble growth objective by 2005.  At the same time,
 they are individuals with a strong commitment to the broadest possible
 interpretation of our company's mission to extend and enhance human life."
     Bristol-Myers Squibb also announced that Michael F. Mee has expressed his
 desire to step down as chief financial officer, and will serve as an advisor
 to the chief executive officer until year-end.  "As CFO, Mike was instrumental
 in our first double-double initiative -- to double sales, earnings and
 earnings-per-share between 1993-2000 -- that put the company on a solid growth
 trajectory," said Mr. Heimbold.  "And his efforts to boost productivity were
 critical to the company in finding resources to expand our medicines business
 in recent years.  We all thank him for his enormous contributions, and wish
 him well."
 
     Bristol-Myers Squibb is an $18 billion pharmaceutical and related
 healthcare products company whose mission is to extend and enhance human life.
 
 

SOURCE Bristol-Myers Squibb Company
    NEW YORK, April 2 /PRNewswire/ -- Bristol-Myers Squibb Company (NYSE:   BMY)
 today announced key leadership appointments intended to accelerate its plan to
 double sales, earnings and earnings-per-share by 2005 through greater emphasis
 on its pharmaceuticals and related healthcare businesses.  The company
 unveiled its medicines-based "Strategy for Growth" last September, and has
 been aligning a senior management team in support of this objective, beginning
 with the announcement on February 7th that Peter R. Dolan, president, will
 succeed Charles A. Heimbold, Jr., chairman and chief executive officer, as
 CEO, effective May 1st.
     "Today's announcement reflects our continued focus on a smooth and orderly
 transition of the senior leadership at Bristol-Myers Squibb," said
 Mr. Heimbold.  "Peter Dolan and I are continuing to develop an outstanding
 team of dynamic leaders -- all with strong experience in pharmaceutical and
 our related businesses -- who will help us capitalize on the opportunities and
 manage the challenges facing our company and our industry in this exciting new
 era."  Mr. Heimbold earlier announced his intention to retire as chairman
 later this year.
 
     -- Frederick S. Schiff, 53, is promoted to senior vice president and chief
        financial officer of Bristol-Myers Squibb.  A 19-year veteran of the
        company, Mr. Schiff served most recently as senior vice president,
        Finance, and comptroller.  He now assumes responsibility for Tax,
        Treasury, Control, Information Management, Global Business Services and
        Productivity.
 
     -- Donald J. Hayden, Jr., 45, executive vice president, will assume
        responsibility for Investor Relations and Corporate Intelligence,
        working with Timothy P. Cost, 41, who is promoted to vice president,
        Investor Relations and Corporate Intelligence.  Mr. Hayden will
        continue to be responsible for Strategy and E-Business, as well as the
        company's Mead Johnson Nutritionals business.  He is a former president
        of the Worldwide Medicines Group with 20 years of experience at
        Bristol-Myers Squibb.
 
     -- Richard J. Lane, 50, president of the Worldwide Medicines Group, will
        become an executive vice president of Bristol-Myers Squibb.  Mr. Lane
        earlier served as president, U.S. Pharmaceuticals Group, and has more
        than 20 years of experience in the pharmaceutical industry, with the
        last five years at Bristol-Myers Squibb.
 
     -- John L. McGoldrick, 60, executive vice president, general counsel, and
        president of the Medical Devices Group, will assume additional
        responsibility for Global Policy.  He will focus on the policy issues
        affecting the company and industry, including pricing, intellectual
        property rights and access to medicines in the U.S. and in
        international markets.  Mr. McGoldrick will continue to oversee the
        company's $115 million "Secure the Future" initiative to address the
        HIV/AIDS crisis in Africa.
 
     -- Peter S. Ringrose, Ph.D., 55, will continue as chief scientific
        officer, overseeing the scientific and research activities of the
        company and updating senior management and the Board of Directors on
        progress on science and technology matters.  He will also continue as
        president of the Pharmaceutical Research Institute.
 
     "Our company's future success is tied not only to great science and
 superior marketing, but also to outstanding leadership," said Mr. Dolan.
 "These leaders have achieved impressive results in our core medicine and
 related healthcare businesses, and offer the vision, skills and energy
 required to reach our MegaDouble growth objective by 2005.  At the same time,
 they are individuals with a strong commitment to the broadest possible
 interpretation of our company's mission to extend and enhance human life."
     Bristol-Myers Squibb also announced that Michael F. Mee has expressed his
 desire to step down as chief financial officer, and will serve as an advisor
 to the chief executive officer until year-end.  "As CFO, Mike was instrumental
 in our first double-double initiative -- to double sales, earnings and
 earnings-per-share between 1993-2000 -- that put the company on a solid growth
 trajectory," said Mr. Heimbold.  "And his efforts to boost productivity were
 critical to the company in finding resources to expand our medicines business
 in recent years.  We all thank him for his enormous contributions, and wish
 him well."
 
     Bristol-Myers Squibb is an $18 billion pharmaceutical and related
 healthcare products company whose mission is to extend and enhance human life.
 
 SOURCE  Bristol-Myers Squibb Company

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