Celgene ( CELG) named its chief executive, Sol Barer, to an added chairman's post.

Barer assumes the position immediately, Celgene says, following John Jackson's retirement on Dec. 31. Barer was previously the company's president and chief operating officer for more than 12 years.

"In 2006, Sol led Celgene to another record performance," Jackson said. "Under Sol's leadership, the company has delivered outstanding results across all areas of our business and for our shareholders."

Shares were gaining 4 cents to $57.57 Wednesday morning.

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