Another Executive Change at BAT: Former Lorillard CEO to Become New Independent Director in November

The new independent director of British American Tobacco, Murray Kessler, is set to take office on November 6. The company is undergoing executive personnel adjustments to promote the implementation of its new strategy.

According to Journalnow on October 5, the board of British American Tobacco (BAT) announced that former Lorillard Tobacco CEO Murray Kessler will join the board as an independent director on November 6. Kessler served as chairman and CEO of Lorillard from 2010 until June 2015, when it was acquired by Reynolds American for $29.25 billion.

After the acquisition of Lorillard by Reynolds American, Kessler entered the board, and recently, he served as CEO and president of Perrigo Company. His other experience in the tobacco industry includes serving as chairman, CEO, and president of UST (United States Tobacco Company).

BAT Chairman Luc Jobin stated in a press release:

"A 'Better Tomorrow' is the new plan launched by BAT in 2019, focusing on new category products, including the best-selling e-cigarette Vuse, heated tobacco product glo (not sold in the U.S.), and oral products Camel Snus and Velo."

BAT has recently undergone multiple personnel changes, with Guy Meldrum, the former president and CEO of Reynolds Tobacco, resigning on June 30, and David Waterfield taking over on July 1; Tadeu Marroco has taken over as CEO of BAT from Jack Bowles on May 15, after Bowles unexpectedly and immediately resigned from his position after four years.

British media tracking the reasons behind Bowles' unexpected resignation pointed out that it may be related to BAT's disclosure on April 26, 2023, agreeing to pay a $508 million civil penalty to resolve allegations of "selling tobacco to North Korea in clear violation of (U.S.) sanctions."