Clayton, Dubilier & Rice (CD&R) has announced the appointment of former Bristol Myers Squibb chief executive Giovanni Caforio as an operating advisor to its funds.
Caforio will support the private equity firm in identifying and evaluating healthcare investment opportunities, as well as working with portfolio companies globally.
The appointment comes as the firm seeks to expand its healthcare portfolio, leveraging Caforio’s 35 years of experience in the biopharmaceutical sector.
Caforio currently serves as chair of Swiss pharmaceutical company Novartis, a role he assumed in 2025.
He previously spent more than two decades at US biopharmaceutical firm Bristol Myers Squibb, serving as chief executive from 2015 to 2023. During his tenure as chief executive, the company launched 12 new medicines and tripled its revenue.
He began his career at Abbott Laboratories in 1988 after qualifying as a doctor of medicine at Sapienza University of Roe.
Dave Novak, co-president of CD&R, said: “A defining characteristic of CD&R has always been our ability to partner with world-class business leaders who bring deep industry expertise and practical experience to our investment process.
“We are thrilled to welcome Giovanni as an advisor to CD&R funds. I believe he will be a tremendous asset as we continue to identify opportunities and support management teams to drive value creation in market-leading healthcare businesses globally.”
Caforio added: “CD&R shares my conviction that the best businesses are built through genuine partnership with management teams. In my view, the Firm invests with the depth and patience to drive real transformation; after three decades in the biopharma sector, I know that operational expertise combined with a patient-centred focus can create lasting value. I’m energised to bring that experience to bear as we work together on this endeavour.”
