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Bristol-Myers Squibb names acting CFO
December 14th, 2009
NEW YORK – Bristol-Myers Squibb Co. has appointed Charles Bancroft as acting chief financial officer, effective January 1.
The pharmaceutical company said Monday that Jean-Marc Huet, executive vice president and CFO, will leave the firm at the end of this year.
"Jean-Marc has indicated to me his desire to return to Europe, and we wish him every success," Bristol-Myers Squibb chairman and chief executive officer James Cornelius said in a statement. "The board of directors and I are grateful to Jean-Marc for his strategic work in rapidly and successfully solidifying our balance sheet, his focus on increasing our cash position to nearly $10 billion through a series of important transactions, and his leadership of continuous improvement initiatives, which have greatly accelerated our bio-pharma transformation."
Currently, Bancroft serves as vice president of finance for Bristol-Myers Squibb's global biopharmaceutical business. In his new role, he will continue to report to Lamberto Andreotti, president and chief operating officer.
Bancroft joined Bristol-Myers in 1984 and has since held positions of increasing responsibility within the finance organization, including international assignments as well as senior leadership positions in the global pharmaceutical business and with ConvaTec.
"Charlie has a wide range of technical and operational finance experiences, including strong financial stewardship, business partnering and leadership capabilities, which will serve him well in his new role," Cornelius commented. "We have a strong finance team who will maintain our focus on delivering shareholder value."