British American unveils new chief executive

24th Jun 2010 07:06

British American Tobacco has announced that its chief operating officer Nicandro Durante will become chief executive of the maker of Lucky Strike cigarettes in February, when Paul Adams steps down from the role.The Brazilian-Italian will become chief executive designate on September 1 and will be succeeded in his current role by John Day.Durante, 53, has been with British American since 1981 and has been director for Africa and the Middle East, as well as holding roles in Brazil, Britain and Hong Kong.Day, an Irishman who joined the firm in 1994, has been director for the Asia Pacific region since 2004.'Paul Adams is an outstandingly successful chief executive and the Group's results under his leadership really do speak for themselves,' said chairman Richard Burrows. 'I thank him for everything he has achieved in the development and execution of British American Tobacco's consistent strategy for building shareholder value and wish him all the best for the future.'The board is naturally delighted to have been able to choose such a strong and experienced internal candidate as chief executive and I am confident that Nicandro will become a worthy successor to Paul.'British American did well in the first quarter of 2010 despite weaker volumes, helped by last year's acquisition of Indonesia's Bentoel and currency moves. The world's second largest tobacco company said revenue for the three months grew in constant currency terms across all regions, and was particularly strong in Africa and Middle East and Americas.