During his time at the regulator, chief commissioner Scott Gottlieb has served as a thorn in the side of big tobacco, having previously led efforts to ban menthol cigarettes and curb e-cigarette use among teenagers
As part of the 2015 decision, ITCAN was required to place C$758mln (approximately £436mln) in escrow and BAT said its board have determined that that asset's recoverability is "less than virtually certain”
A spokesperson for BAT said: “We are still of the view that this decision is wrong - ignoring the reality that both adult consumers and government have known about the risk associated with smoking for decades"
The FTSE 100-listed firm said it has been considering successors for some time and, having reviewed a strong list of internal and external candidates over the past few months it has identified a lead candidate
BAT saw its sales jump by 57% to £11.64bn for the half-year to 30 June 2018, with profit from operations ahead 72.4% to £4.438bn, and its adjusted earnings per share (EPS) of 137.2p ahead of expectations
In a statement to be delivered at today’s annual general meeting, BAT’s chairman, Richard Burrows said: "Given the success of the Next Generation Product portfolio, the Group has decided to further increase investment plans"
The cigarette manufacturer said, for the year to 31 December 2017, the announced tax changes will have no impact on its underlying effective tax rate, which the group has previously said is expected to be around 30%