British American Tobacco Names Its Next CEO
- Chief Operating Officer Jack Bowles gets the top job next year
- Philip Morris, Juul pose threat in cigarette alternatives
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British American Tobacco Plc picked a 14-year company veteran to become its new chief executive officer as tobacco companies face the possibility that smoking alternatives such as electronic cigarettes will replace their traditional products.
Chief Operating Officer Jack Bowles, 54, who has experience running the American, European and Asian regions for BAT, will replace Nicandro Durante, who steps down on April 1, the company said Tuesday, the same day that rival Imperial Brands Plc forecast its revenue from next-generation products could reach 1.5 billion pounds ($2 billion) in 2020.