BAT makes leadership changes as part of 'tobacco harm reduction' focus

17th Sep 2024 07:24

(Sharecast News) - British American Tobacco (BAT) announced a number of leadership changes on Tuesday, aimed at accelerating its strategy to build a smokeless future and enhance sustainability.

The FTSE 100 tobacco giant said effective immediately, Kingsley Wheaton had been appointed to the newly created position of chief corporate officer.

Reporting directly to chief executive Tadeu Marroco, Wheaton would spearhead BAT's 'Sustainable Future' initiatives.

His responsibilities would include promoting broad acceptance of the company's tobacco harm reduction (THR) agenda and fostering fact-based discussions on nicotine use among key stakeholders.

Collaborating with James Murphy, director of research andsScience, Wheaton would work to ensure the scientific foundation of BAT's harm reduction efforts.

Wheaton's previous role as chief strategy and growth officer would be dissolved.

Paul McCrory, director of corporate and regulatory affairs, would meanwhile continue to report to Wheaton.

BAT said McCrory had played a pivotal role in redefining this crucial function, making strides in strategy development and execution.

He and Wheaton would work closely during the transition to further evolve the management team's effectiveness.

Donato Del Vecchio, chief sustainability officer, would also remain under Wheaton's leadership, reinforcing BAT's focus on sustainability and integrity.

Elsewhere, in response to the company's expanding smokeless product portfolio, BAT said it had appointed Luciano Comin as chief marketing officer.

Formerly the marketing director for combustibles and new categories, Comin would now report directly to Marroco.

The move was designed to strengthen marketing efforts across all product categories.

James Barrett, director of business development, would now report to chief financial officer Soraya Benchikh.

BAT said the change aligned business development and mergers and acquisitions with the finance division, streamlining operations.

All leadership changes were effective immediately.

"We will be taking an important step later today in our journey to encourage THR acceptance with the launch of a compelling science and evidential case for THR in the form of 'The Omni: Forward Thinking for a Smokeless World'," said chief executive officer Tadeu Marroco.

"As we embark on the next phases of building a Sustainable Future this is the right time to make these changes and together, Kingsley, Paul, James and Donato, will form a powerful and complementary leadership team to deliver real change.

"I would like to thank Kingsley for all that he has done as chief strategy and growth officer - he has stepped into the role at a critical time for BAT and has helped shape the strategy and establish new functional capabilities. In all of these areas, BAT is now stronger and more robust."

At 0820 BST, shares in British American Tobacco were down 0.13% at 2,966p.

Reporting by Josh White for Sharecast.com.