By Adria Calatayud

British American Tobacco said Monday that Tadeu Marroco, currently the company's finance director, has been appointed as chief executive to succeed Jack Bowles.

Mr. Bowles is stepping down with immediate effect, the cigarette maker said.

Mr. Marroco was appointed finance director at BAT in 2019 and had served on its management board since 2014 in roles including transformation director and regional director for Europe and North Africa, the company said.

A search for a new finance director will now start, BAT said. The company said Javed Iqbal, currently its digital and information director, will take on the role of interim finance director until a successor has been appointed.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

May 15, 2023 02:36 ET (06:36 GMT)

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