Just as expected by PharmaGossip and its readers.
Bristol-Myers Squibb said on Tuesday that Chief Executive Peter Dolan will step down immediately, and that his post will be filled on an interim basis by board member James Cornelius, a former chairman of medical device maker Guidant.
The company said the changes followed a Monday board meeting at which a special government monitor recommended the company dismiss Dolan and General Counsel Richard Willard. Willard is also leaving, effective immediately.
Dolan becomes the third CEO of a large US pharma firm to be ousted within the last 18 months, highlighting the increasing pressures Big Pharma is facing.
Last year, Merck CEO Raymond Gilmartin went into early retirement as the firm struggled with the after-effects of the withdrawal of the COX-2, Vioxx in 2004. Earlier this year, Hank McKinnell was replaced by Jeffrey Kindler as CEO of the world's largest pharma firm, Pfizer.
Source: Reuters
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