British American Tobacco keeps Chair Luc Jobin for two more years

(Alliance News) - British American Tobacco PLC said on Tuesday it has decided to extend the tenure of its Chair Luc Jobin, following a "comprehensive" succession process.

The London-based cigarette and nicotine product maker has lengthened Luc's stint for up to two years until its annual general meeting in April 2028.

During this two-year period, the search for a new chair will continue. Luc, it said, will continue to stand for annual re-election at the AGM.

Luc joined the BAT board in July 2017, and became chair in April 2021.

BAT said a "comprehensive chair succession process" was led by Holly Keller Koeppel, the senior independent director, supported by external advisers.

On Tuesday, BAT also announced that Koeppel, who has served since July 2017, will step down at the conclusion of the AGM in April 2026. It promoted Karen Guerra to the role of senior independent director, subject to re-election.

"Karen has been closely involved in the chair succession process to date and is well placed to lead the refreshed search process and support an orderly transition," the company said.

"An extension period of up to two years removes uncertainty during this important phase of the group's transformation, while providing the nominations committee with sufficient flexibility to appoint the right candidate for BAT," Koeppel said.

BAT shares eased 1.2% to 4,404.00 pence on Tuesday morning in London. In Johannesburg, they were down 1.9% to ZAR955.76.

By Artwell Dlamini, Alliance News senior reporter South Africa

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