Capital Markets Day 2026

horizon 2026

BAT's 2026 Capital Markets Day was held on 29–30 September 2026, in Winston-Salem, North Carolina, U.S.

Our CMD is an opportunity to hear about the capabilities, the people, the belief, and the ambitions that are shaping our future, and why we are confident we will deliver long-term growth and value creation for all our stakeholders.

Our webcast has now finished but you can view the presentations from the event below. A playback facility and transcripts will be made available after the event.

View full agenda


Presentations

Welcome

Victoria Buxton and David Waterfield

Horizon 2030

Tadeu Marroco

Changing Digital Landscape

Javed Iqbal

Driving Consumer-Centric Growth – Transforming Insights & Foresights

Julian Prynn

R&D and Innovation Ecosystem

Zafar Khan

Building Our Brands

Luciano Comin

Winning in Combustibles

Emma Dean

New Categories Future-forward Portfolio Strategy

Anniek Kindts

Beyond Nicotine – Roadmap to 2035 

James Barrett

Belief Shaping & Behaviour Shifting through Tobacco Harm Reduction

Kingsley Wheaton and Danni Tower

Transforming and Winning in the U.S.

David Waterfield

AME – Multi-category in Action

Fred Monteiro

APMEA – Growth Opportunity

Pascale Meulemeester

Sustainable Shareholder Returns

Johan Vandermeulen

Horizon 2030 – Closing Remarks

Tadeu Marroco

Operational Excellence

Zafar Khan

U.S. – Operational Excellence

Luciano Kirst


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