Bristol Myers Squibb (NYSE: BMY) has announced the election of Michael R. McMullen as an independent director to its board, effective July 1, 2024. McMullen will also serve as a member of the company's audit committee.
McMullen brings with him extensive experience, having previously served as the President and CEO of Agilent Technologies, Inc. from 2015 to 2024. During his tenure, he led Agilent's transformation into a market-leading life sciences and diagnostics company, nearly tripling its market capitalization. He is currently serving as a senior advisor to Agilent and its new CEO until October 31, 2024.
The incoming director holds an MBA with honors from the University of Pennsylvania's Wharton School of Business and an undergraduate degree with a double major in finance and economics, magna cum laude from the University of Delaware. He also serves on the board of directors of KLA Corporation and is a former director of Agilent and Coherent, Inc.
According to Bristol Myers Squibb's lead independent director, Theodore R. Samuels, McMullen's global experience and inspirational leadership style will uniquely position the board to support the company through its next chapter.
McMullen expressed his excitement about joining the board, stating that he looks forward to helping the company realize the promise of the compelling opportunities ahead. With the appointment of McMullen, the size of the board will increase to 11 members.
The company did not disclose the specific compensation that McMullen will receive in accordance with the company's director compensation program. Today the company's shares have moved -0.4% to a price of $40.81. For the full picture, make sure to review Bristol-Myers Squibb's 8-K report.
