British American Tobacco (BATS.L) named finance director Tadeu Marroco CEO Monday, succeeding Jack Bowles, who retired after four years.
Marroco joined the board in 2019.
Bowles joined the board in 2019 and led Lucky Strike and Dunhill’s vape and e-cigarette restructuring.
“Having been at the center of this strategy, I am convinced that this is the right strategic path for BAT,” Marroco said.
The company named Javed Iqbal as acting financial director, while Marroco was replaced.
BAT and a subsidiary pleaded guilty last month to conspiring to violate U.S. sanctions by selling tobacco to North Korea and committing bank fraud.
