Reynolds American Inc. yesterday announced its proposed leadership team given the third-quarter acquisition of RAI by British American Tobacco goes ahead.
Debra A. Crew will remain as president and CEO of RAI and, should the acquisition be completed, she will report to Nicandro Durante, president and CEO of BAT.
Andrew D. Gilchrist, currently executive vice president and CFO of RAI, is said to have indicated that, in the event of the completion of the proposed acquisition, he intends to resign from the company shortly thereafter. Gilchrist’s replacement, who will be named in the future, will report to Crew.
‘Should the acquisition be successfully completed, the majority of RAI and its subsidiaries’ senior executives will remain with the RAI companies,’ RAI said in a note posted on its website.
“I’m delighted that so many of our companies’ strong, seasoned leaders will remain in their roles following completion of the proposed acquisition,” Crew was quoted as saying. “As a group, we are committed to our shared vision of transforming the US tobacco industry, and we are confident that being part of a much larger, global organization will enable us to achieve this vision and amplify our success,” she said.
RAI said that, in the weeks ahead, a new executive vice president of consumer marketing for RJRT was expected to be named because Cressida Lozano had indicated that, in the event of the completion of the proposed acquisition, she intended to resign from the company later this year.
‘In addition to Gilchrist and Lozano, J. Brice O’Brien, the current executive vice president of public affairs and chief communications officer, has indicated that, in the event of the completion of the proposed acquisition, he intends to resign from the company shortly thereafter,’ the note said. ‘Following such departure, his responsibilities will be assigned to Mark Holton, in addition to Holton’s continuing role as RAI’s general counsel.’
“Our companies owe Andrew Gilchrist, Brice O’Brien and Cressida Lozano tremendous thanks for their leadership and commitment to our shared success,” Crew said. “Should these resignations occur, we wish them all the best in their future endeavors.”
‘RAI’s acquisition by BAT is subject to approval by both companies’ shareholders as well as other customary closing conditions,’ the note said. ‘RAI continues to expect the transaction to be completed in the third quarter of 2017.’