Reynolds Board Changes

Source from:  Tobacco Reporter 08/20/2010

Nicandro Durante, the COO of British American Tobacco, is resigning from Reynolds American Inc's board of directors effective December 1. He is likely to be succeeded by BAT's regional director for its Asia-Pacific region, John Daly, whose formal nomination will be voted on by the board at its scheduled meeting on December 1. The changes stem from a planned executive realignment at BAT that was announced earlier this year. Durante is scheduled to become BAT's chief executive designate on September 1 and will become the company's chief executive at the end of February 2011. Durante has been a member of RAI's board since December 2008 as one of the five board members designated by Brown & Williamson Holdings (B&W), a subsidiary of BAT, under the terms of the 2004 governance agreement between RAI, B&W and BAT. Durante's three-year term as a director was due to expire in 2012. Susan M. Ivey, RAI's chairman, president and CEO, thanked Durante for his contributions to the company and its shareholders. "Nicandro has provided outstanding advice and counsel during his years of service on the board," Ivey said. Daly, who joined the management board of BAT as regional director for the Asia-Pacific region in October 2004, will succeed Durante as COO of BAT on September 1. Daly joined BAT after the 1999 merger of Rothmans International and BAT. Enditem