05 Apr Jonanthan Cartu Reports Inside Track: Why life’s not such a drag for British Americ…
We all know that the stuff in cigarettes is highly addictive. British American Tobacco (BAT) seems to be having its own struggles to give up its chairman Richard Burrows. The sailing-mad Dubliner, who was governor of Bank of Ireland before the previous economic crisis, was scheduled to step down this year having served a 10-year stint at the FTSE 100 firm.
However, changes in BAT’s executive ranks — notably the chief executive and chief financial officer — have meant that “to enable effective succession planning for the chairman, the board considers the interests of the company’s shareholders to be best served by Mr Burrows continuing as chairman for a limited time”.
He’ll now stick around for another year. Burrows can hardly be too disappointed. He