Tag: bat

  • BAT Announces Management Board Changes

    BAT Announces Management Board Changes

    Yesterday (July 14), BAT announced management board changes with Pascale Meulemeester effectively replacing Michael Dijanosic. Dijanosic will step down from the board and his role as regional director of Asia Pacific, Middle East, and Africa (APMEA) December 31 to dedicate more time to family and friends. Meulemeester will join BAT effective September 1, initially as regional director designate of APMEA, and become regional director of APMEA and a member of the management board January 1, 2026.   

    Meulemeester is currently president of Western Europe at Barry Callebaut Group, a global chocolate and cocoa organization, where she is a member of the executive leadership team, responsible for leading Barry Callebaut Group’s largest business segment and driving strategic initiatives across the region. Meulemeester held several other senior roles at Barry Callebaut Group, leading growth accelerations, transformation, and business turnarounds in different geographies, including in the Asia-Pacific region. Prior to joining Barry Callebaut Group, Meulemeester spent seven years with Mars Inc. and worked at Sara Lee earlier in her career.

  • BAT Accuses Local Manufacturers of Fueling South African Illicit Cigarette Market

    BAT Accuses Local Manufacturers of Fueling South African Illicit Cigarette Market

    British American Tobacco South Africa (BATSA) accused local cigarette manufacturers of driving the country’s booming illicit tobacco trade, which it says is costing the state an estimated R28 billion ($1.6 billion) in lost annual tax revenue. The company’s regulatory head, Johny Moloto, said the crisis has shifted from a cross-border issue to a “homegrown problem,” with 76.7% of retail outlets selling cigarettes below the Minimum Collectable Tax price for a box of cigarettes, which “should sell for above R26.22 ($1.47) a pack after accounting for levies.”

    “We have repeatedly shown who the culprits are,” Moloto said. “If SARS [South African Revenue Service] and the police wanted to act, they could. Today.”

    A study, commissioned by BAT and independently conducted by Ipsos, revealed that 14 of the 23 manufacturers involved in the illicit trade are based in South Africa, accounting for 91% of the illegal market. Gold Leaf Tobacco Company was named as the most prevalent brand in these sales, with nearly 90% of its products selling below the legal threshold. BATSA had 1.5% of its products selling below the minimum.  

    Moloto urged SARS and police to act on existing intelligence and called for stricter enforcement, including SARS’ presence at manufacturing sites and a national minimum retail price to ease policing.

  • BAT COO Says Korea Key to Smokeless Expansion

    BAT COO Says Korea Key to Smokeless Expansion

    British American Tobacco (BAT) said it is focusing on South Korea as a strategic hub for its global smokeless transformation, citing the country’s tech-savvy consumers, dynamic regulatory landscape, and innovation-driven ecosystem. BAT Group Chief Operating Officer Johan Vandermeulen said Korea plays a vital role beyond sales, acting as a testing ground for the company’s next-generation products, during an interview with The Korea Herald.

    “Korea offers a unique blend of sophisticated consumers, cutting-edge technology, and a dynamic regulatory environment that makes it an ideal testing ground for our next-generation products,” said Vandermeulen.

    Vandermeulen called the company’s Sacheon facility “one of the best” in the global BAT network, and said with Korea now the second-largest heated tobacco market in the world (behind Japan), BAT is accelerating investments in product innovation, localization, and advanced manufacturing. BAT is also expanding its vapor brand VUSE in Korea with strict ingredient and marketing standards, while eyeing future opportunities for nicotine pouches, its fastest-growing category globally.

    Vandermeulen emphasized that tobacco harm reduction, responsible marketing, and clear, fair regulation are central to the company’s vision, but warned about the dangers of illicit vaping products, which he said undermine public trust and legitimate efforts.

    “We believe vaping has a vital role in encouraging adult smokers, who would otherwise continue smoking, to switch completely to smokeless alternatives,” Vandermeulen said. “But the category can only thrive if market order is preserved.”

  • BAT Bangladesh Forced to Relocate Headquarters

    BAT Bangladesh Forced to Relocate Headquarters

    British American Tobacco (BAT) Bangladesh will move its registered office from Mohakhali to Ashulia by mid-July 2025, following a Supreme Court ruling that rejected its appeal to extend the lease on its Mohakhali premises. The company must vacate the site it has leased from the Dhaka Cantonment Board since 1964.

    The relocation also involves shutting down BAT’s Dhaka factory, though operations will continue at its Savar, Manikganj, and Kushtia facilities. A spokesperson acknowledged potential disruption but emphasized preparations were in place to minimize the impact and protect shareholder interests. BAT Bangladesh earned Tk9,597 crore in Q1 2025.

    The company had been leasing the factory on 30-year terms, with a maximum duration of 90 years. BAT applied for the final renewal, but was denied by the board, which initiated the legal proceedings. Environmental groups had long called for the factory’s relocation, citing pollution concerns.

  • BAT Launching Search for Next Chairman

    BAT Launching Search for Next Chairman

    Sky News is reporting that British American Tobacco is in the process of picking headhunters as it prepares to start the search for a new board chairman. Luc Jobin, a Canadian business veteran, has chaired BAT since 2021 but has been on the board since 2017. Under UK corporate governance guidelines, directors are no longer deemed independent if they have served for more than nine years.

    Sky News said the search for his successor is not expected to conclude until later this year or early 2026, according to insiders.

    With a market capitalization of over £77bn, BAT remains one of the largest companies listed on the London Stock Exchange. The company’s continued success is being fueled by next-generation products such as Velo nicotine pouches.

    BAT declined to comment to Sky News.

  • BAT Launches New Heated Device in Japan

    BAT Launches New Heated Device in Japan

    Today (June 9), BAT launched the glo Hilo in Japan, what it calls the first and only heated product (HP) featuring Turbostart technology that heats sticks in just five seconds. The device uses a quartz heating element that uses both resistive heating and infrared waves.

    “glo Hilo is a breakthrough system that will reshape the way glo is positioned in the HP category, allowing it to compete effectively in the premium segment,” BAT said in its press release. “To support glo Hilo, BAT is also launching the new ‘Myglo’ app which enables consumers to stay in control of their device usage, personalize the display, find their device if it’s been misplaced, or lock it.”

    BAT also announced that virto, a new consumable, has also been launched to support the glo Hilo system. virto consists of blended tobacco delivered through a uniquely engineered structure for precision heat transfer to every part of the stick, achieving consistent airflow.

    “We are very excited to introduce glo Hilo in Japan, and it’s even more meaningful to be bringing back glo to its birthplace—nine years since its world-first launch in Sendai in 2016.”

    The new products will be available for purchase at major convenience stores in Sendai City and on the official glo online store. The glo range is sold in over 30 markets around the world.

  • U.S. Faces Vape Shortage as Tariffs Hit, Seizures Increase

    U.S. Faces Vape Shortage as Tariffs Hit, Seizures Increase

    Popular vape brands like Geek Bar may get more expensive in the U.S.—if you can find them at all, Reuters reports. Shipments of vapes from China to the U.S. ground to a near halt in May from a year ago, official data shows, hit by U.S. President Donald Trump’s tariffs and a crackdown on unauthorized e-cigarettes in the world’s biggest market for smoking alternatives.

    That includes Geek Bar, which is not authorized to sell in the U.S. but has been widely available due to porous import controls. Geek Bar was by far the most popular unauthorized vape brand in the U.S. last year, accounting for around a quarter of sales tracked by market research company Circana in 2024 despite lacking a license to sell from the FDA.

    One retailer, who asked not to be named because their business sells unauthorized vapes, told Reuters that one of the store’s vape suppliers normally receives 100 boxes of Geek Bar vapes per week, but is now getting just 10. Another supplier imposed unprecedented purchase limits of five boxes.

    “There were a lot of supply chain issues” during COVID-19, the person said. “But I’ve never seen this.”

    Trump’s decision to impose steep tariffs on China, now at 30% after peaking at 145% in April, as well as blockbuster seizures of unauthorized vapes, have constrained the supply of Chinese-owned vape brands and Geek Bar in particular, according to five industry sources and notices from U.S. Geek Bar wholesalers reviewed by Reuters. In May 2025, the FDA recorded just 71 shipments of products labelled as e-cigarettes or vapes from China, compared with nearly 1,200 over the same period last year.

    To mitigate tariffs, illicit vape producers can mislabel or undervalue their shipments or spoof their origin entirely to make it look like they came from a lower-tariff country like Indonesia, Vietnam or Mexico, said Luis Pinto, a spokesperson for British American Tobacco. Vapes from China are often smuggled into the U.S. disguised as other items entirely, such as shoes or toys, to evade officials hunting for unauthorized vapes at the border, according to public statements from the FDA and Customs and Border Protection.

    The growth of Geek Bar and other unregulated vape brands has eaten into the market share of cigarette companies like Altria and BAT, which estimates unauthorized e-cigarettes accounted for some 70% of all U.S. vape sales last year.

  • BAT Issues First-Half Update

    BAT Issues First-Half Update

    BAT published its 2025 First Half Pre-Close Trading Update yesterday (June 3), followed by a short conference call and Q&A session hosted by Tadeu Marroco, Chief Executive, Soraya Benchikh, Chief Financial Officer, and Victoria Buxton, Group Head of Investor Relations.

    “Our revenue performance in H1 is slightly ahead of our previous guidance, and we now expect to deliver FY revenue growth of 1-2%, supporting 1.5 to 2.5% adjusted profit from operations growth,” Marroco said. “2025 is a deployment year and, as previously highlighted, we expect our performance to be H2 weighted, mainly driven by the roll-out of New Category innovations in key markets from the middle of the year.”

    Improved performance in the modern oral category and U.S. combustibles led the company to raise 2025 revenue growth guidance to 1%-2% from just 1% prior, analysts said. BAT’s shares went up 2% after the reporting.

    Click here for the full update and a transcript of Marroco’s comments.

  • BAT Sells $1.5B Stake in ITC

    BAT Sells $1.5B Stake in ITC

    Yesterday (May 28), British American Tobacco said it sold a $1.5 billion stake in Indian consumer goods company ITC at 413 Indian rupees per share. The company sold 313 million shares in ITC, representing 2.5% of ITC, according to the term sheet. This final amount exceeded its initial plan to sell up to 290 million shares in the deal, valued at approximately $1.4 billion.

    According to Reuters, the final sale price represented a 4.8% discount to ITC’s closing price of 433.90 rupees ($5.21) on Tuesday. Shares of ITC dropped nearly 3% to 421.70 rupees ($5.06) on Wednesday. BAT will remain ITC’s largest shareholder after the deal, according to LSEG data. Last year, BAT sold 436.9 million shares, or roughly 3.5% of ITC’s outstanding shares, for about $2 billion in what was India’s third-largest block deal.

    BAT said it would increase its 2025 $1.5 billion share buyback program by £200 million as a result of the deal, which is not expected to have any other impact on its annual outlook.

  • BAT Responds to ITC Speculation

    BAT Responds to ITC Speculation

    British American Tobacco responded to the recent speculation relating to a potential disposal of part of its shareholding in ITC Limited. “BAT confirms that it is evaluating a possible disposal of a small part of BAT’s shareholding in ITC by means of an on-market trade,” the company said in a press release. “There can be no certainty that any such transaction will proceed, nor can there be any certainty as to the terms of any potential transaction. A further announcement will be made if and when appropriate.”

    The announcement was made on behalf of British American Tobacco by Caroline Ferland, Company Secretary, who likewise said the announcement contained inside information in relation to British American Tobacco for the purposes of Article 7 of the Market Abuse Regulation.

    “The securities referred to herein will not be, and have not been, registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act,” the company said.

    BAT is currently ITC’s top investor, with a 20.3% stake according to LSEG data. Last year BAT sold 436.9 million shares, or roughly 3.5% of ITC’s outstanding shares, for about $2 billion in what was India’s third-largest block deal ever.