News Release19 June 2023
BAT announces changes to Management Board structure and composition
Following the appointment of Tadeu Marroco as Chief Executive on 15 May 2023, BAT announces changes to its Management Board. The new structure, roles and composition of the Management Board will support Tadeu’s commitment to:
- A sharpened focus on improved execution and operational excellence
- Enhanced capabilities critical to BAT’s strategic development and transformation
- A progressive and agile organisation with a collaborative and inclusive culture
Johan Vandermeulen, will be appointed to the new role of Chief Operating Officer reporting to the Chief Executive, with effect from 1 July 2023. This role will be accountable for driving business performance, operational excellence and best in class execution, with a focus on both short-term and sustainable delivery. Reporting to Johan will be:
- David Waterfield, promoted to the Management Board as President & CEO, Reynolds American Inc. with effect from 1 July 2023.
- Fred Monteiro (Director, Americas & Europe) and Michael Dijanosic (Director, Asia Pacific, Middle East & Africa).
- Zafar Khan (Director, Operations) and Javed Iqbal (Director, Digital & Information). Javed also serves currently as interim Finance Director.
Kingsley Wheaton will be appointed to the new role of Chief Strategy & Growth Officer reporting to the Chief Executive, with effect from 1 September 2023. This role will be accountable for continued strategic development and delivery of sharper consumer focus through an integrated approach to brands, together with shaping enablers for long-term sustainable growth and driving our robust ESG agenda. Reporting to Kingsley will be:
- Luciano Comin, appointed to the new role of Marketing Director, Combustibles & New Categories with effect from 1 July 2023. This role will be accountable for a more integrated approach to insights, innovation, brand-building, consumer experience and activation, and revenue growth management across the Combustibles and New Categories portfolios.
- Paul McCrory, promoted to the Management Board to the new role of Director, Corporate & Regulatory Affairs with effect from 1 September 2023. This role will be accountable for shaping regulatory strategy and leading regulatory engagement to secure sustainable access to markets and categories.
- James Barrett, promoted to the Management Board to the new role of Director, Business Development with effect from 1 September 2023. This role will be accountable for strategy development, M&A, the Wellbeing & Stimulation portfolio and our venturing unit, Btomorrow Ventures.
James Murphy, Director, Research & Science and Jerome Abelman, Director, Legal Affairs & General Counsel, continue in their roles reporting directly to the Chief Executive.
Guy Meldrum, currently President & CEO, Reynolds American Inc., and Paul Lageweg, currently Director, New Categories, will step down from their roles and from the Management Board with effect from 30 June 2023 and will facilitate a transition with their successors.
Hae In Kim will step down from the Management Board with effect from 30 June 2023 to take up the role of Strategic Talent Director, reporting to the Chief Executive. As an integral part of her responsibilities in this leadership role working alongside the Board and the Management Board, Hae In will oversee the execution of key several projects as part of BAT’s talent agenda.
The existing roles of Chief Transformation Officer, Chief Growth Officer, Director, New Categories and Director, Combustibles will be removed from the Management Board as their accountabilities transfer within the new structure.
A comprehensive process is underway to identify and appoint the successors for the roles of Finance Director and Director, Talent, Culture & Inclusion reporting to the Chief Executive.
Tadeu Marroco, Chief Executive, commented:
“This refreshed Management Board structure is critical to my commitment to build a progressive and agile organisation with a collaborative and inclusive culture, enabling simultaneous performance and transformation.
“To that end, I am delighted to be welcoming David, Paul and James to the Management Board. They are all highly collaborative leaders who have the depth of experience to enable the continued strategic and cultural transformation of BAT.
“I would like to thank Guy for his significant contribution across many markets and geographies over the last two decades, and Paul, for his role in helping to create a New Category business that continues to drive BAT’s transformation. I also look forward to working with Hae In as Strategic Talent Director.”
New appointments to the Management Board:
- David Waterfield has been with BAT for 25 years, most recently as Area Director Western Europe and General Manager UK & Ireland during which he built the third largest New Category business in BAT, gaining leadership in Modern Oral in all Western European markets. Prior to this role, David has held several senior positions at BAT including Group Head of Combustibles, Regional Head of Marketing Eastern Europe, Middle East & Africa and Area Director South-East Europe & GM Romania.
- Paul McCrory has worked at BAT for 16 years and currently holds the role of Assistant General Counsel, Corporate & Group Company Secretary. Prior to this role, Paul has held several senior positions at BAT including Assistant General Counsel, Commercial and Head of Legal & Business Development East Asia Area. A successor to his role will be appointed in due course.
- James Barrett has been with BAT for 27 years and currently holds the role of Commercial Director, Wellbeing & Stimulation. Prior to this role, James has held several senior positions at BAT including Group Finance Controller, Head of M&A and Area Head of Finance, Middle East.
References in this statement to 'BAT', 'we', 'us' and 'our' refer to the British American Tobacco Group.