When Bristol-Myers Squibb shakes up things, where are the executives likely to land?
THE Bristol-Myers Squibb Company, long known for its well-mannered culture, may soon see a battle royal for its top office. In a move intended to give several top managers more responsibilities, Bristol-Myers announced a series of high-level executive appointments yesterday that immediately raised questions on Wall Street. There is no clear line of succession at Bristol-Myers, though Charles A. Heimbold Jr., the chairman and chief executive, plans to retire in 2001, and Kenneth Weg, the company’s executive vice president, plans to leave a year earlier. Yesterday’s announcement not only failed to answer the succession question, but it also appeared to create a race among several Bristol-Myers executives. ”It does look like there is no heir apparent,” said David Saks, a managing director at Gruntal & Company.
