Imperial Tobacco Appointment of ITG Brands Chief Executive

Source from:  Tobacco Reporter 02/27/2015

On 15 July 2014, Imperial Tobacco Group PLC (the "Company") announced that it and its wholly owned subsidiary, ITG Brands, LLC ("ITG Brands") (formerly Lignum-2, L.L.C.), had entered into an agreement with Reynolds American Inc. in relation to the proposed acquisition of certain US cigarette and e-cigarette brands and assets currently owned by Reynolds American Inc. and Lorillard, Inc.

The Company is pleased to announce that following a Board-led process, David Taylor, currently Executive Vice President, Finance and Planning, and Chief Financial Officer of Lorillard, will become Chief Executive of ITG Brands following completion of the acquisition.

David has held his position at Lorillard since 2008 and has been instrumental in building Lorillard's track record of growth. He has a wealth of experience and has been actively involved in preparing for the launch of ITG Brands.

The Company also announces that Martin Orlowsky has voluntarily resigned due to differences with the Company's management style.

Alison Cooper, Chief Executive of Imperial Tobacco Group, said: "I'm delighted to confirm the appointment of David and would like to thank Marty for the tremendous contribution he has made throughout the deal process. David has a great track record of success and possesses the right skills and expertise to lead ITG Brands. Our commercial and operational plans are well-advanced and we continue to make excellent progress with integration planning. Regulatory approval for the deal is expected in the spring and under David's leadership we look forward to establishing ITG Brands as a major competitive player in the US tobacco market." Enditem