19th Jun 2023 08:41
(Alliance News) - British American Tobacco PLC on Monday announced a number of executive changes, including introducing a new chief operating officer role.
The London-based maker of cigarettes and vaping products said Johan Vandermeulen will be named as chief operating officer with effect from July 1. Vandermeulen is currently chief transformation officer, a role he has held since April.
It said the role would be accountable for "driving business performance, operational excellence and best in class execution, with a focus on both short-term and sustainable delivery".
David Waterfield was promoted to the board as chief executive officer of the Reynolds American Inc susbdiary, also with effect July 1.
The current CEO of Reynolds American Guy Meldrum will step down from the role from June 30.
Additionally, the company said Kingsley Wheaton will be named as chief strategy & growth officer with effect from September 1.
Chief Executive Tadeu Marroco said: "This refreshed management board structure is critical to my commitment to build a progressive and agile organisation with a collaborative and inclusive culture, enabling simultaneous performance and transformation.To that end, I am delighted to be welcoming David, Paul and James to the management board. They are all highly collaborative leaders who have the depth of experience to enable the continued strategic and cultural transformation of BAT."
Existing roles chief transformation officer, chief growth officer, and director for New Categories and director for Combustibles will be removed from the board and those responsibilities shifted to other posts.
BAT shares were flat at 2,581.00 pence each in London on Monday morning. In Johannesburg, the stock was down 0.4% at ZAR601.12.
By Xindi Wei, Alliance News reporter
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