Fri 13 Oct 2023, 8:00 | | BRITISH AMERICAN TOBACCO PLC - BAT Appoints Chief People Officer to the Management Board |
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BAT Appoints Chief People Officer to the Management Board
British American Tobacco p.l.c.
Incorporated in England and Wales
(Registration number: 03407696)
Short name: BATS
Share code: BTI
ISIN number: GB0002875804
British American Tobacco p.l.c. (the "Company")
13 October 2023
BAT Appoints Chief People Officer to the Management Board
Further to the changes to the Management Board announced on 19 June 2023, Cora Koppe-
Stahrenberg, has been appointed to the new role of Chief People Officer and will join the BAT
Management Board with effect from 1 November 2023.
Bringing critical experiences from other sectors and industries, Cora was most recently Global
Head of Human Resources of Fresenius Medical Care, a publicly listed global healthcare company
with over 125,000 employees. While at Fresenius Medical Care, Cora established a new Global HR
function, and implemented a global people strategy which focused on the creation of a
collaborative and empowering culture delivered through a number of change initiatives.
Previously, Cora held various international senior HR positions at Marsh & McLennan Companies,
Emirates Investment Authority, and General Electric.
Tadeu Marroco, Chief Executive, commented:
"I am delighted to welcome Cora to the Management Board. This is a significant management
team enhancing appointment for BAT. Culture and collaboration are at the heart of my
leadership agenda, Cora shares these values and will play a key role in the Group's
transformation to build A Better Tomorrow. I have no doubt that Cora will bring a fresh
perspective having worked internationally in multiple sectors outside our industry and will bring
new insights and capability to our management team.
??I look forward to working with Cora to deliver a winning culture and a dynamic, modern BAT."
The Chief People Officer will report to the Chief Executive.
ENDS
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About BAT
BAT is a leading, multi-category consumer goods business with a purpose to build A Better
Tomorrow™ by reducing the health impact of its business through offering a greater choice of
enjoyable and less risky products for adult consumers.
We continue to be clear that combustible cigarettes pose serious health risks, and the only way
to avoid these risks is not to start or to quit. BAT encourages those who would otherwise continue
to smoke to switch completely to scientifically-substantiated, reduced-risk alternatives*†. In order
to deliver this, BAT is transforming into a truly consumer-centric multi-category consumer
products business.
BAT's ambition is to have 50 million consumers of its non-combustible products by 2030 and to
generate £5billion of New Categories revenue by 2025. BAT has set stretching ESG targets
including achieving carbon neutrality for Scopes 1 & 2 by 2030 and eliminating unnecessary
single-use plastic and making all plastic packaging reusable, recyclable or compostable by 2025.
BAT employs over 50,000 people. The BAT Group generated revenue of £27.65 billion in 2022 and
profit from operations of £10.5 billion.
The company's Strategic Portfolio is made up of its global cigarette brands and a growing range
of reduced-risk*† New Category tobacco and nicotine products and traditional non-combustible
tobacco products. These include vapour, tobacco heating products, modern oral products
including tobacco-free nicotine pouches, as well as traditional oral products such as snus and
moist snuff. In 2022, we had 22.5 million consumers of our non-combustible products, a rise of 4.2
million on full year 2021.
References in this statement to 'BAT', 'we', 'us' and 'our' refer to the British American Tobacco
Group.
* Based on the weight of evidence and assuming a complete switch from cigarette smoking. These products are not risk
free and are addictive.
† Our vapour product Vuse (including Alto, Solo, Ciro and Vibe), and certain products, including Velo, Grizzly, Kodiak, and
Camel Snus, which are sold in the U.S., are subject to FDA regulation and no reduced-risk claims will be made as to these
products without agency clearance.
Forward-looking statements
This release contains certain forward-looking statements, including "forward-looking" statements made
within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are often,
but not always, made through the use of words or phrases such as "believe," "anticipate," "could," "may,"
"would," "should," "intend," "plan," "potential," "predict," "will," "expect," "estimate," "project," "positioned,"
"strategy," "outlook", "target" and similar expressions. These include statements regarding our customer
target ambition, New Categories revenue targets and our ESG targets.
All such forward-looking statements involve estimates and assumptions that are subject to risks,
uncertainties and other factors. It is believed that the expectations reflected in this release are reasonable
but they may be affected by a wide range of variables that could cause actual results to differ materially
from those currently anticipated. A review of the reasons why actual results and developments may differ
materially from the expectations disclosed or implied within forward-looking statements can be found by
referring to the information contained under the headings ??Cautionary Statement?? and "Group Principal
Risks" in the 2022 Annual Report and Form 20-F of British American Tobacco p.l.c. (BAT PLC).
Additional information concerning these and other factors can be found in BAT PLC's filings with the U.S.
Securities and Exchange Commission ("SEC"), including the Annual Report on Form 20-F and Current
Reports on Form 6-K, which may be obtained free of charge at the SEC's website, http://www.sec.gov and
BAT PLC??s Annual Reports, which may be obtained free of charge from the BAT website www.bat.com.
Past performance is no guide to future performance and persons needing advice should consult an
independent financial adviser. The forward-looking statements reflect knowledge and information
available at the date of preparation of this release and BAT undertakes no obligation to update or revise
these forward-looking statements, whether as a result of new information, future events or otherwise.
Readers are cautioned not to place undue reliance on such forward-looking statements.
13 October 2023
Sponsor: Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities
Date: 13-10-2023 08:00:00
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