DEFINITION of 'Peter R. Dolan'
A former CEO of Bristol-Myers. Dolan joined the company in 1988 and held various senior management positions, becoming president in 2000 and chairman in 2001, a position he held through 2005. Dolan was dismissed in September 2006 because of a patent dispute over the blood-thinning blockbuster drug Plavix, a major source of the company's revenues. The dispute led to major sales losses when a generic equivalent went on the market. Although he was fired, Dolan received a severance package worth $1.2 million and pension benefits worth about $9.5 million.
BREAKING DOWN 'Peter R. Dolan'
Born in 1956 in Massachusetts, Dolan earned his MBA from Dartmouth's Tuck School of Business in 1980. Privately-held Gemin X Pharmaceuticals appointed Dolan to its board in 2008. He has also served as chairman of the board of Pharmaceutical Research and Manufacturers of America (PhRMA).