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Bristol-Myers Squibb

(BMY)

said Monday that Frederick Schiff has been promoted to senior vice president and chief financial officer. He was most recently the comptroller and senior vice president of finance.

The move comes after the pharmaceutical giant tapped its president, Peter Dolan, to succeed Charles Heimbold Jr. as chief executive.

Shares of Bristol-Meyers closed down $1.15, or 1.9%, at $58.25 on the

New York Stock Exchange

.