Cornelius named permanent Bristol-Myers CEO.

Drug giant Bristol-Myers Squibb Co. has elevated former Guidant Corp. chairman and CEO Jim Cornelius to permanent CEO.

The 63-year-old Zionsville businessman had served as interim CEO of the New York company the past eight months. He has been a Bristol-Myers director since January 2005.

Bristol-Myers fired CEO Peter Dolan in September after the company encountered a number of problems, including blowing an attempt to keep a generic version of its Plavix blood thinner off the market.

Cornelius was Eli Lilly and Co.’s chief financial officer before joining Guidant.

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