A federal monitor overseeing drug maker Bristol-Myers Squibb Co. has urged that CEO Peter Dolan and the company's general counsel be fired, according to a source familiar with the situation.
Bristol-Myers' board is expected to consider cutting the company's hefty dividend Tuesday, according to sources.
Dolan has been criticized for a series of missteps, including an accounting scandal, overpaying in a deal with biotech company ImClone Systems Inc., and, in the latest setback, earlier-than-expected competition for its top-selling Plavix drug.
If the Bristol-Myers board members decide to dismiss him, Dolan would be the third CEO of a large pharmaceutical company to lose his post.
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