Boardroom reshuffle at BAT as boss plans transition to vapes
Boardroom reshuffle at British American Tobacco as new boss plans to switch from cigarettes to vaping
Blunt: BAT boss Tadeu Marroco took over last month
British American Tobacco’s new CEO has unveiled a major boardroom reshuffle as he doubles down on the transition from cigarettes to vaping.
The announcement is the first major change from Tadeu Marroco, who took over last month after Jack Bowles stepped down after four years in charge.
He quit weeks after the tobacco company agreed to pay US authorities £509 million after a subsidiary pleaded guilty to allegations it had violated US sanctions against North Korea.
Bowles has not been charged with any wrongdoing in the North Korea case.
Marroco’s shake-up sees Johan Vandermeulen, who rises to chief operating officer, and Kingsley Wheaton, who becomes chief strategy and growth officer.
But the changes mean that BAT’s board of directors will be male, as the only female member, Hae In Kim, steps down as director of talent, culture and inclusion.
BAT has been on a mission to move away from cigarettes and into vaping and heated tobacco products.