British American Tobacco (LON: BATS), the London-headquartered tobacco and nicotine group behind Vuse, glo and Velo, said on Thursday that Chief Marketing Officer Luciano Comin will step down from its Management Board on 28 February 2027, after a 34-year career at the company. The shares were little changed on the news.
BATS traded at 4401p in early trade today, up 0.53% from Wednesday’s close of 4378p. That leaves the shares roughly 12% below the 5004p high they reached over the past year, and well above the 3525.68p low.
The changes, set out in a stock exchange filing published before the market opened today, mark an orderly, staggered succession. Pascale Meulemeester, currently Regional Director for Asia-Pacific, Middle East and Africa (APMEA), becomes CMO Designate from 1 January 2027 and takes the role in full from 1 March 2027, remaining on the Management Board throughout. Her vacated regional post goes to external hire Celina Li, who joins as Regional Director Designate, APMEA, from 1 September 2026, before taking the seat and a Management Board place from 1 January 2027.
Li was most recently Chief Commercial Officer and General Manager for International & Ingredients at Ocean Spray Cranberries, the US agricultural cooperative, having previously held senior roles at Coca-Cola, Anheuser-Busch InBev and Procter & Gamble. The muted share reaction fits a governance update rather than a financial one: the handover runs over seven months and leaves strategy untouched. BAT’s smokeless brands, its non-cigarette nicotine range spanning vapes, heated tobacco and pouches, reached 35.0 million adult consumers and 19.8% of group revenue at 30 June, up from 18.2% across 2025.
BAT chief executive Tadeu Marroco said: “Luciano has made a significant contribution to BAT over the course of his lengthy career… He leaves BAT with our sincerest gratitude and I wish him and his family all the very best for the future.” Of Li, he said she “brings international leadership experience and a proven track record of driving growth in consumer businesses.”
Meulemeester’s promotion completes on 1 March 2027, when she takes over as Chief Marketing Officer in full.