Reynolds American Inc. (RAI), the maker of Camel brand cigarettes, said Susan Cameron will return as chief executive officer after Daniel Delen retires May 1 as the company works to revive stagnant sales.
Cameron also will remain on the company’s board, which she rejoined in December, Winston-Salem, North Carolina-based Reynolds said in a statement yesterday. Delen, who has been president and CEO since 2011, will continue to consult for the company for two years.
Reynolds sales have dropped for the past three straight years as the company, along with fellow cigarette makers, has struggled to attract customers. Cameron was the company’s CEO, president and a member of its board from 2004 to 2011.
“Susan was the architect of RAI’s ‘total tobacco’ strategic direction more than 10 years ago, and we’re pleased to have her back with the company to further our vision of transforming tobacco,” Thomas Wajnert, nonexecutive chairman of the board, said in the statement.
Reynolds shares fell 0.2 percent to $54.90 at the close in New York. They have gained 9.8 percent this year, compared with a 0.9 percent increase for the Standard & Poor’s 500 Index.
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