British American Tobacco CEO to Retire

   By Aisha Al-Muslim

British American Tobacco PLC's chief executive Nicandro Durante will retire next year after eight years at the helm of the tobacco maker.

Mr. Durante, who has been with the company for nearly 37 years, has plans to retire on April 1, 2019, the company announced Wednesday. He will remain CEO for the next six months until a successor is named to takeover the London-based owner of Kent, Dunhill and Lucky Strike brands.

Mr. Durante oversaw the establishment of BAT's reduced-risk products business and the acquisition of Reynolds American Inc. Before becoming CEO in 2011, he was the chief operating officer in 2008. He joined BAT's subsidiary in Brazil, Souza Cruz, in 1981.

The board has been "considering successors for some time," the company said in the release. The board reviewed internal and external candidates over the past few months and has identified a lead candidate to succeed Mr. Nicandro. The company will make an announcement at a later time, it said.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

September 19, 2018 18:58 ET (22:58 GMT)

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