That’s what Merrill Lynch’s David Risinger is saying the timeline should be to fill this chair.

In a research note he issued after the drugmaker reported earnings, the securities analyst reminds clients that Peter Dolan was shown the door last September. And so it’s high time a permanent ceo is announced. Since then, board member Jim Cornelius has been in charge.

“We do not think a search needs to last more than five months,” Risinger opines. “If BMY does not announce a new ceo in the next month or so, investors could start to ask more questions about whether BMY could be acquired.” That’s putting it mildly. Speculation has been growing after Bristol-Myers cut a deal this month with AstraZeneca to develop and market diabetes drugs.

In a conference call yesterday afternoon, Andrew Bonfield, the drugmaker’s executive vice president and cfo, didn’t say anything new, though. He simply reiterated that the board was trying hard to find someone. And he didn’t talk about mergers.

[tags]Bristol-Myers Squibb, Jim Cornelius, Peter Dolan[/tags]