Cornelius elected to chairman of Bristol-Myers Squibb board

NEW YORK Bristol-Myers Squibb Wednesday announced that the company’s board of directors has elected chief executive officer James Cornelius as chairman of the board. He will continue serving in his previous role as well.

The board also named Textron’s chairman, president and chief executive officer Lewis Campbell, chairman, president as lead independent director. James Robinson III, co-founder and general partner of RRE Ventures, resigned as non- executive chairman of the Board, a position he has held since June 2005. He will remain a director of the company until May 6, 2008, the date of the company’s annual meeting of stockholders, when he will retire pursuant to the Board’s mandatory age retirement policy.

Cornelius was named chief executive officer of Bristol-Myers Squibb on April 30, 2007, after serving as interim chief executive officer since September 12, 2006. He joined the Board in January 2005. “I am excited by this tremendous opportunity to serve as chairman of the Board of this great company,” he stated. “Over the past 18 months as chief executive officer, I have been deeply impressed by the commitment and dedication of our employees to our mission and goals, and the strong belief they share with me in the promise of Bristol-Myers Squibb as a BioPharma leader for the future.”

Cornelius was previously a member of the board of directors of Eli Lilly, a member of its executive committee and chief financial officer from 1983 to 1995.