Tadeu Marroco, BAT’s new c.e.o. Photo credit: BAT
British American Tobacco (BAT) appointed finance director Tadeu Marroco as its new c.e.o. to succeed Jack Bowles with immediate effect.
During his tenure as c.e.o., Bowles oversaw a transformation at the company to focus on new categories like vapes and other reduced risk products.
Marroco joined the company in Brazil in 1992 and was appointed to the management board as business development director in 2014. Prior to being finance director Marroco served as transformation director and regional director for Europe and North Africa.
Current digital and information director Javed Iqbal will take on the role of finance director while BAT searches for a successor.
The information comes just after BAT agreed to pay more than $635 million to US authorities after a subsidiary admitted to selling tobacco products to North Korea in violation of US sanctions and committing bank fraud.