Tobacco giant gets new Irish COO
BRITISH America Tobacco (BAT)'s Irish director of its Asia-Pacific operations, John Daly, has been promoted to chief operating officer at the group after the cigarette maker announced the appointment of a new chief executive.
BAT chairman and former Bank of Ireland governor Richard Burrows yesterday welcomed the board revamp, which will see Nicandro Durante, the current COO, be made chief executive. He replaces Paul Adams, who'll step down next February. BAT is the world's second largest tobacco manufacturer after Philip Morris. Its brands include Dunhill, Pall Mall and Lucky Strike.
Mr Daly, who'll formally take up his new role in September, previously took over the role of director of BAT's Asia-Pacific operations in 2004, when he also joined the board.
He originally joined BAT in 1994 and spearheaded the near $500m (€404m) acquisition last year of an 85pc stake in Indonesian cigarette maker Bentoel. (Additional reporting Bloomberg)