3rd Feb 2020 08:45
(Alliance News) - Imperial Brands PLC on Monday said car dealer Inchcape PLC's current Chief Executive Stefan Bomhard will join the tobacco company in the same role, effective at a future date.
The FTSE 100-listed company added that Alison Cooper has stepped down as chief executive and as a board director with immediate effect now that a replacement has been found for her.
Imperial Brands has appointed Dominic Brisby, currently divisional director for Americas, Africa, Asia & Australasia region, and Joerg Biebernick, divisional director of Europe, as joint interim chief executive officers, until Bomhard assumes the top post.
"Stefan takes on the chief executive role at a significant point in Imperial's development and the board is confident that his experience and expertise will drive the business forward. Stefan's initial priorities will be to strengthen performance and enhance shareholder value," said Imperial Chair Therese Esperdy.
Bomhard has been CEO of Inchcape for the past five years. Inchcape separately on Monday said a search to find a new CEO is underway.
Imperial Brands shares were up 0.5% at 1,960.80 pence each in London on Monday morning. Inchcape shares were down 0.4% at 654.50p.
By Tapan Panchal; [email protected]
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