BAT appoints new chairman

batBRITISH American Tobacco (BAT) PLC has appointed Richard Burrows, a former governor of the Bank of Ireland, as its new company's new chairman. British American Tobacco (BAT) PLC said Richard Burrows, a former governor of the Bank of Ireland, will become the company's new chairman later this year.

BAT the world’s second largest cigarette producer, also has operations in Zimbabwe and is listed on the Zimbabwe Stock Exchange (ZSE). The group, best known for its Lucky Strike and Dunhill cigarette brands, said that Burrows will take up a post as a non-executive director in September and formally become chairman in November.
The 63-year-old will replace Jan du Plessis, who is stepping down after he took up a similar role with Anglo-Australian miner Rio Tinto PLC.

Last month, the group reported a 16 percent rise in first half profits from last year to 1.45 billion pounds. It reported growth in markets including Pakistan, Bangladesh and South Korea. Burrows served as governor of the Bank of Ireland from 2005 until last month. He resigned in May after apologizing for a slump in the bank’s profits amid the global financial crisis.

The business veteran spent much of his career in the alcoholic drinks industry, and was chief executive of Irish Distillers makers of Jameson Irish Whiskey for 22 years. “I am delighted to have been given such an exciting opportunity at such a world class company,” Burrows said in a statement. Nick Scheele, BAT’s senior independent director, said that Burrows had a strong record in international business and a “proven ability to work with a team from various cultures and countries.”

Post published in: Economy

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