Tadeu Marocco takes over from Jack Bowles as British American Tobacco’s CEO.
British American Tobacco (BAT) has announced that its group FD, Tadeu Marocco, has taken over as the company’s CEO, from 15 May. The company’s director of digital and information, Javed Iqbal, has stepped into the role of interim group FD until a permanent successor for Tadeu has been appointed.
Tadeu succeeds Jack Bowles, who has been CEO since April 2019. “I wish to thank Jack, who has been instrumental in establishing our ‘A Better Tomorrow’ strategy,” Tadeu said, explaining that he is humbled to fill his predecessor’s shoes.
“Having been at the centre of the formulation of this strategy, I am convinced that this is the right strategic path for BAT.”
Picking up the baton
Jack explained that it has been a privilege to lead the multinational. “In the last four years, we have set out to transform the business towards a better tomorrow through a focus on growing new category consumer brands.”
“It is now time for a change of leadership to take the business to the next level.”
He wished Tadeu and the rest of the team at BAT success in continuing their journey. “Given the quality of BAT’s talent pipeline, I am confident that BAT will continue to be successful.”
Tadeu joined BAT in 1992 and has served on the management board since 2014. His previous roles include regional director for Europe and North Africa, as well as group transformation director. He most recently served as the company’s group FD.
“Throughout my 30-year career with this great company, inclusivity and collaboration have always been at the heart of my leadership approach. My commitment as the new CEO will be to nurture the passion in BAT for our people, our consumers and our brands. My management team and I will continue to build an increasingly agile and progressive BAT,” said Tadeu.