London – September 9, 2026 -- CD&R has appointed Giovanni Caforio, current Chair of Novartis and former CEO of Bristol Myers Squibb (BMS), as an Operating Advisor to its funds, tasking him with sourcing and evaluating healthcare investment opportunities globally.
Caforio brings 35 years of biopharmaceutical leadership to CD&R's healthcare strategy
Dr. Caforio has led Novartis' board since 2025 and previously spent over two decades at BMS after 12 years at Abbott Laboratories. He will support CD&R funds in identifying new healthcare deals and work directly with the firm's portfolio companies worldwide.
BMS tripled revenue and launched 12 medicines under Caforio's eight-year tenure as CEO
Caforio was appointed BMS CEO in May 2015 and subsequently became board chair, stepping down from both roles in 2023. During his tenure, the company launched 12 new medicines, tripled its revenue and completed several large strategic acquisitions, expanding its global scale.
CD&R Co-President Dave Novak cites Caforio's industry expertise as key to value creation
"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," said Novak. CD&R Partner Eric Rouzier added that Caforio's experience across innovation, commercialisation and global operations would strengthen the firm's healthcare portfolio.
Caforio said his three decades in biopharma taught him that operational expertise combined with a patient-centred focus can create lasting value, and that he shares CD&R's conviction that strong businesses are built through genuine partnership with management teams.
Caforio holds a medical degree from Rome's Sapienza University, earned in 1988
He is fluent in Italian, French, Spanish, Portuguese and English. CD&R, founded in 1978, invests across industrial, healthcare, consumer, technology and financial services sectors from offices in New York and London.