LONDON (dpa-AFX) - British American Tobacco p.l.c. (BATS.L) on Tuesday said that following a strategic review, it has decided to implement several senior management changes and a new regional structure to both streamline, and transform its business. The changes would take effect from 1 April 2023.
The company has appointed Johan Vandermeulen to the new role of Chief Transformation Officer.
The new structure is expected to increase the efficiency of BAT's geographical footprint, optimize market prioritization and would be based on fewer, larger business units, enabling even greater collaboration and accelerated decision-making across BAT.
The number of regions is proposed to be reduced from four to three viz USA (Reynolds American Inc.), Americas & Europe (AME) and Asia Pacific, Middle East & Africa (APMEA). The number of business units is being reduced from 16 to 12.
In addition, two new Management Board roles are being created to ensure clarity of ownership, accountability and focus. The Chief Transformation Officer would be responsible for driving faster transformation, accelerating greater capability build in key areas and enabling an even faster, simpler and more agile organization.
Shares of British American Tobacco p.l.c. (BATS.L) closed Monday's trading at 3067 pence, up 30.50 pence or 1 percent from the previous close.
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