The FTSE-100-100 Cigarettes British American Tobacco (BAT) is preparing to launch the search for a new president.
Sky News learned that the owner of Dunhill and Lucky Strike is choosing headhunters to help identify a successor by Luc Jobin.
Mr. Jobin, a veteran of Canadian companies, has only presided over Bat since 2021.
However, he has been part of his board of directors since 2017, which means that he is faced with being “expired” in the middle of next year under the British corporate governance guidelines which indicate that administrators are no longer deemed independent if they have been used for more than nine years.
The search for his successor should not conclude until later this year or at the beginning of 2026, according to initiates.
With a market capitalization of more than 77 billion pounds sterling, BAT remains one of the largest companies listed on the London Stock Exchange.
He brought back half -yearly results last week showing that annual income was on the right track to exceed the councils prior to the city.
The growth of the company is fueled by so -called new generation products such as Velo, a global brand of nicotine pockets.
“In the United States, I am very happy that we expected to return both to income and the growth of profits in H1 and the exercise,” said Tadeu Marroco, Director General of Bat last week.
“While the volume of the fuels industry remains under pressure, we have stabilized our total volume of the industry and the value of value.
“The exclusion of the segment of reduction of the installation where we are not present, we gain in sharing, motivated by the natural American spirit and the lucky strike.”
Bat refused to comment.