Tuesday, February 21, 2017

Fast Fred Hassan Protégé Bob Bertolini Added To BMS Board -- In Deal With Activist Investor

All the longer term readers will recall the name. He was CFO of legacy Schering-Plough, until 2010 -- pre-closing of the bust-up (by Merck). Then he was CFO at Bausch + Lomb. But in between, he was added to the boards of some hedge-fund hectored pharma companies. The graphic at right conveys his "travelling salesman's" pedigree -- at least in part. But do know that Fast Fred chose him for his pliability, in my estimation. The more things change, the more they stay. . . the same, it seems.

Here is the early morning bit, from Reuters:

. . . .Bristol-Myers Squibb Co said on Tuesday it appointed three directors to its board in a deal with activist investor Jana Partners LLC.

Bob Bertolini, former Bausch & Lomb CFO, Matthew Emmens, former Vertex Pharmaceuticals Inc CEO, and Theodore Samuels, who is on the boards of Perrigo and Stamps.com, have been added to the board.

Bristol-Myers, which also announced a $2 billion accelerated share repurchase program, said the appointments would temporarily increase the size of the board to 14. . . .

Net, net -- the stock buy-back at least will be good for longer term BMS stockholders. Now you know. Onward, on a eerily gray 65 degree Chicago day. . . smiling just the same, for the world is chock full of new science wonders -- and celestial joys. . . .


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