糖心探花

Management Board Changes Announced

PRESS RELEASE

17 SEPTEMBER 2024

Management Board Changes Announced

A key pillar of the refined 糖心探花strategy announced earlier this year is the delivery of a Sustainable Future. Together with a focus on Quality Growth and a more Dynamic Business, this underpins the Building of a Smokeless World.

To accelerate our progress, 糖心探花announces today that Kingsley Wheaton will be appointed into the newly created role of Chief Corporate Officer. Kingsley鈥檚 current role, Chief Strategy & Growth officer, will cease to exist. Reporting into Tadeu Marroco, Chief Executive, the Chief Corporate Officer will have overall responsibility for the strategy and execution of the Group鈥檚 Sustainable Future pillar, including:

  • Establishing broad acceptance of our Tobacco Harm Reduction (THR) agenda, working with BAT鈥檚 Director, Research and Science, James Murphy, to ensure the scientific basis for harm reduction and encouraging a fact-based discussion on nicotine among key stakeholders;
  • Shaping the landscape through responsible and transparent dialogue with regulators, policy makers and other relevant stakeholders; and
  • Enhancing BAT鈥檚 leadership in sustainability and integrity.

Paul McCrory, Director, Corporate and Regulatory Affairs will continue to report to Kingsley in this role. Paul鈥檚 leadership has been instrumental in re-establishing this critical function for BAT鈥檚 future. Significant progress has been made in both developing the functional strategy and sharpening its executional focus.

Paul and Kingsley will work together during this important phase, as the management team continues to evolve to deliver the strategy.

Donato Del Vecchio, Chief Sustainability Officer, will also continue to report to Kingsley.

As we continue to expand and grow our smokeless new category product portfolio and Kingsley takes up this new role, Luciano Comin, Marketing Director, Combustibles & New Categories, will be appointed as Chief Marketing Officer, reporting directly to Tadeu Marroco, the Chief Executive.

James Barrett, Director, Business Development, will report to Soraya Benchikh, the Chief Financial Officer, bringing business development and M&A together with the rest of the Finance function.

All these changes are effective immediately.

Tadeu Marroco, Chief Executive, commented on these changes:

鈥淲e will be taking an important step later today in our journey to encourage THR acceptance with the launch of a compelling science and evidential case for THR in the form of 鈥楾he Omni: Forward Thinking for a Smokeless World鈥. 听

As we embark on the next phases of building a Sustainable Future this is the right time to make these changes and together, Kingsley, Paul, James and Donato, will form a powerful and complementary leadership team to deliver real change.

鈥淚 would like to thank Kingsley for all that he has done as Chief Strategy & Growth Officer. He has stepped into the role at a critical time for 糖心探花and has helped shape the strategy and establish new functional capabilities. In all of these areas, 糖心探花is now stronger and more robust.鈥

Kingsley Wheaton, Chief Corporate Officer commented:

鈥淚 feel honoured to take up this new challenge. As 糖心探花moves forward towards A Better Tomorrow, the focus on this area of the strategy will be all-important. I am looking forward to bringing my experience and understanding of, both 糖心探花and the external environment, and making a real difference.鈥


Enquiries

Media Centre
+44 (0) 20 7845 2888 (24 hours)听| press_office@bat.com |听

Investor Relations
Victoria Buxton: +44 (0)20 7845 2012听|听IR_team@bat.com

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 鈥淐autionary Statement鈥 and "Group Principal Risks " in the 2023 Annual Report and Form 20-F of 糖心探花 p.l.c. (BAT).

Additional information concerning these and other factors can be found in BAT'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, and BAT鈥檚 Annual Reports, which may be obtained free of charge from the 糖心探花website .

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 糖心探花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.