Bristol-Myers Squibb Names Dolan Next CEO

Bristol-Myers Squibb

(BMY) - Get Report

said Peter R. Dolan will become chief executive of the company May 1, replacing current Chairman and CEO Charles A. Heimbold.

Heimbold, age 67, will continue to serve as the chairman until his retirement, which is planned for later this year.

Dolan, 45, joined the pharmaceutical company, which is based in New York, in 1988. He was named president and elected to the board of directors in January 2000. Heimbold came to the company 38 years ago, first as an attorney.

Shares of Bristol-Myers gained $1.30, or 2.1%, to $64.85 in recent

New York Stock Exchange

trading.