British American Tobacco decided to change the CEO
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CEO of a British tobacco manufacturer british american tobacco (BAT) Jack Bowles resigns reported in company.
Instead of Bowles, BAT will be headed by CFO Tadeu Maroko, who has been with the company since 1992. He became CFO in 2019, at the same time he joined the company’s directors. Temporarily, financial matters for BAT will come under the control of CIO Javed Iqbal.
Bowles has been running the company since 2019. In his farewell speech, he noted that “the time has come for a change in leadership to take the business to the next level.”
Reuters citing its experts writesthat the change of the CEO of the company was unexpected. The publication also draws attention to the fact that personnel changes occurred a few weeks after BAT agreed to pay the US authorities $ 535 million for the sale of its “daughter” of tobacco products to North Korea, which is a violation of sanctions.
In March 2022, BAT announced that it would leave Russia. In February 2023, the manufacturer clarified that it plans to complete the exit from the Russian business before the end of the year. On the Russian market, BAT is represented by cigarette brands Kent, Rothmans, Vogue, Dunhill, Pall Mall, Lucky Strike, Java Zolotaya, etc., as well as the Glo tobacco heating system.
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