BRISTOL (dpa-AFX) - UK-based tobacco giant Imperial Brands plc (IMB.L, IMBBF.PK, IMBBY.PK) announced Thursday that its Chief Executive Officer Alison Cooper will step down from the role of CEO and from the Board once a suitable successor is found.
Till then, Cooper will focus on driving the performance of the business, including the asset divestment programme, which is expected to realise proceeds of up to 2 billion pounds by May 2020.
Cooper has been with Imperial for the past 20 years, nine of which have been as CEO.
Chairman Mark Williamson, said, 'During her tenure as CEO the business has been significantly simplified and reshaped to strengthen its long-term growth potential, and more than £10 billion in dividends has been returned to shareholders.'
Imperial Brands recently had issued a disappointing outlook for fiscal 2019 due to the challenging Next Generation Products or NGP market in the USA and changes to the company's results expectations in the Africa, Asia and Australasia division.
Copyright RTT News/dpa-AFX