Imperial Announces CEO Succession

Source from:  Tobacco Reporter 11/11/2009

The Imperial Tobacco Group announced today that CEO, Gareth Davis, will retire on 12 May next year and be replaced by Alison Cooper, who is currently COO. During more than 37 years at Imperial, Davis has held a number of senior positions in the business. He was appointed CEO of Imperial Tobacco Limited in February 1996 and CEO of Imperial Tobacco Group PLC in August 1996. He led the successful demerger of the company from Hanson PLC and its listing on the London Stock Exchange in October 1996. Under Davis' leadership, Imperial has developed from a predominantly UK business into one of the world's leading international tobacco companies. "Gareth has made an outstanding contribution over the years, transforming Imperial Tobacco into a global tobacco business and one of the UK's strongest companies," said Group chairman, Iain Napier. "Through his strategic direction we have considerably expanded our international operations and diversified our tobacco portfolio, creating significant value for our shareholders in the process. "Gareth is a world class leader and will remain in post until May next year, allowing us to benefit from his expertise and ensuring a smooth and efficient handover process. "Gareth has built a first class senior management team around him and I am very pleased to announce Alison as his successor, following a rigorous review of potential candidates both internally and externally. "Alison has an exemplary track record in our business and has played a key role in driving our international expansion. "Her leadership capabilities and strategic vision will ensure that Imperial Tobacco continues to evolve and maximise growth opportunities." Gareth Davis said that it had been a privilege to have had the opportunity to lead the international development of Imperial. "I am very proud of what we have achieved and the business is very well placed for continued growth and superior shareholder returns," he said. "I'm delighted that the Board has decided that Alison should succeed me as chief executive. She has the skills and expertise to drive the future growth of the business and I know she will do a first class job." Alison Cooper said she was looking forward to the challenge of leading Imperial and building on its track record of delivering superior shareholder returns. "Our focus on effective cost and cash management has underpinned our success and will remain hallmarks of our business, whilst our enhanced focus on sales and consumers will ensure that we continue to leverage our portfolio and drive growth across our international footprint," she added. Enditem