Nicandro Durante will become Chief Executive of British American Tobacco p.l.c. on the retirement of Paul Adams at the end of February 2011 aged 57. In anticipation of his new role, Nicandro will become Chief Executive Designate on 1 September 2010. He will be succeeded in his current role as Chief Operating Officer by John Daly, also on 1 September 2010.
From the same date, Ben Stevens, 50, Finance Director, will take on the additional role of Chief Information Officer, which is of key importance in transforming the Group as it becomes a more integrated global business.
Nicandro, 53, who is Brazilian/Italian, joined British American Tobacco in 1981 and his major appointments have included Director, Africa and Middle East, President of Souza Cruz and other senior management roles in Brazil, the UK and Hong Kong. John, 53, who is Irish, has been Director, Asia-Pacific since 2004, having joined the Group in 1994. He held a number of key roles in Europe and the Far East before becoming Area Director for the Middle East and North Africa in 2001.
On the Management Board, John will be succeeded as Regional Director, Asia-Pacific by David Fell, 49, who will move from his role as Director, Eastern Europe. David will be succeeded by Des Naughton, 43, currently Regional Head of Marketing, Africa and Middle East. Des, who is British, joined the Group in 1995 and has held a wide range of senior management roles.
In addition to these executive appointments, Kieran Poynter, formerly the Chairman and Senior Partner at PricewaterhouseCoopers LLP, will become a Non-Executive Director with effect from 1 July 2010.
Richard Burrows, Chairman of British American Tobacco, said: “Paul Adams is an outstandingly successful Chief Executive and the Group’s results under his leadership really do speak for themselves. I thank him for everything he has achieved in the development and execution of British American Tobacco’s consistent strategy for building shareholder value and wish him all the best for the future.
“The Board is naturally delighted to have been able to choose such a strong and experienced internal candidate as Chief Executive and I am confident that Nicandro will become a worthy successor to Paul. I congratulate Nicandro, Ben, John, David and Des on their new roles.
“It also gives me great pleasure to welcome Kieran Poynter to the Board as a Non-Executive Director. His deep knowledge of the City will bring additional strength to the Board.”
Paul Adams said: “It’s been a great nine years, two as Managing Director and seven as Chief Executive. I feel privileged to have led such a strong management team but this is the right time to make a change, both for me and for the Company. I’m very pleased that Nicandro has been chosen as Chief Executive and I hope that he finds the role as fulfilling as I have.”
Nicandro Durante said: “It is an honour to succeed Paul and I am confident that our proven strategy, focused on growth, productivity, responsibility and developing a winning organisation, will continue to serve shareholders very well.”
- Board Succession at British American Tobacco (43 kb)