British American Tobacco (BAT) announced on Monday that group finance director Tadeu Marroco will serve as chief executive officer, responsible for driving the company’s e-cigarette transformation strategy. Marroco will succeed JackBowles, who is stepping down after nearly four years as chief executive.
Marroco joined BAT in 1992, starting his career in Brazil. In 2019, he was appointed to the BAT Board of Directors as Group Finance Director. Previously, he also served on the BAT Management Board, serving as European and North Africa Regional Director and Group Transformation Director.
Marroco said he was honored to succeed Bowles and believed BAT’s transformation strategy was on the right track. He also stated that he will continue to promote the sustainable development and innovation of BAT.
BAT is one of the largest tobacco companies in the world, owning well-known brands such as Lucky Coffee and Dunhill. The company has also faced some recent challenges, including U.S. sanctions on its subsidiaries and allegations of bank fraud.
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