British American Tobacco picks insider with 'track record of innovating' as new boss
British American Tobacco has selected an internal candidate for its new chief executive, resisting the temptation to plump for a high-profile external candidate. The tobacco titan said Jack Bowles, the chief operating officer of its international business, would take over from Nicandro Durante when he retires next April. Mr Durante stepped down last week after eight years in the top job amid mounting concerns about BAT’s sliding share price. Around a fifth of BAT’s stock market value has been wiped away in the last year as tobacco companies are threatened by rising global demand for vaping products.