British American Tobacco PLC (LON:BATS) announced the president of its US business Reynolds American has stepped down to pursue other opportunities.
Ricardo Oberlander has been with the tobacco company for almost three decades, including seven years as a member of the management board.
READ: British American Tobacco expects revenue growth despite global volume decline
He is replaced by Guy Meldrum, currently regional director of Asia-Pacific and Middle East, as of September 1.
“Guy's extensive experience with BAT over the last 26 years, including a number of senior roles in Australasia, the North Asia Area, Russia and his recent experience in leading the Asia-Pacific and Middle East Region, will serve him well to further drive the transformation of Reynolds American,” said BAT chief executive Jack Bowles.
Shares added 1% to 2,566.78p early on Wednesday.