British American Tobacco Announces Directorate Changes
Why we think this is neutral
The directorate changes announced by British American Tobacco are relatively minor and are unlikely to have a significant impact on the company's performance or valuation in the short-to-medium term. The appointment of Uta Kemmerich-Keil could bring valuable expertise, but the departure of Murray S. Kessler is not expected to be detrimental.
Key Points
- Uta Kemmerich-Keil appointed as independent Non-Executive Director
- Murray S. Kessler to step down as Non-Executive Director
- Changes to the composition of the Board Committees
Summary
British American Tobacco (BAT) has announced that Uta Kemmerich-Keil will join the Board as an independent Non-Executive Director, effective 17 February 2025. She will also be appointed to the Audit and Nominations Committees. Additionally, Murray S. Kessler, a current Non-Executive Director, will step down from the Board on the same date to focus on his new role as Chief Executive Officer of Wellington International LLC. As a result of these changes, there will be some reshuffling of the Board Committees, with Karen Guerra joining the Remuneration Committee and stepping down from the Audit Committee.