The Wall Street Journal-20080213-Bristol-Myers Appoints Chairman

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Bristol-Myers Appoints Chairman

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Bristol-Myers Squibb Co. named Chief Executive James M. Cornelius to the additional post of chairman.

Mr. Cornelius, who joined Bristol-Myers' board in January 2005, was named interim CEO in 2006 after a financial scandal at the pharmaceutical company resulted in the firing of the previous chief executive. Before joining the pharmaceutical company, Mr. Cornelius spent 28 years at Eli Lilly & Co.

He succeeds James D. Robinson III, co-founder and general partner of RRE Ventures, who will remain a director until May 6, when he will retire according to the board's mandatory-age retirement policy.

Bristol-Myers also named Textron Inc. Chief Executive Lewis B. Campbell lead independent director.

In 2006, Bristol-Myers CEO Peter R. Dolan and general counsel, Richard Willard, were fired following the recommendation of a federally appointed outside monitor.