20th Sep 2018 06:46
LONDON (Alliance News) - British American Tobacco (BAT) Chief Executive Officer Nicandro Durante is getting ready to step down from its role amid a sector-wide share plunge and investors' concerns, Sky News reported late Wednesday evening.
According to the news agency, Durante who has led the FTSE 100-listed cigarette manufacturer since 1995 is expected to leave "at some point in the next year", although the precise date remains unclear.
https://news.sky.com/story/share-price-decline-smokes-out-changing-of-the-guard-at-bat-11502591
According to Sky News, Durante is likely to be replaced by an internal candidate, with Chief Operating Officer Jack Bowles considered the favourite contender for the role.
The shares of the Lucky Strike manufacturer slumped by nearly a quarter in the past 12 months as sales of the core tobacco products reduced making way for BAT's vaping brand Vype and Glo.
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