British American Tobacco

Company Overview

British American Tobacco is the second most profitable publicly traded tobacco company in the world behind PMI. It is currently valued at $80 billion USD. In 2017, British American Tobacco generated £XXX ($XXX billion USD) in profits. The company reported 907 billion sticks in cigarette volume sold worldwide, down by 1% from 2016. According to tobacco market analysts at Euromonitor International, BAT held a XXX retail volume market share in cigarettes worldwide in 2017 and a XXX volume share of the global market (excluding China).

Board Members

Name	Position	Bio
Richard Burrows	Chairman	Calantzopoulos was named Chief Executive Officer and was elected to the Board of Directors on May 8, 2013. He served as Chief Operating Officer from Philip Morris’s spin-off on March 28, 2008 to May 8, 2013. Calantzopoulos was Philip Morris International’s President and Chief Executive Officer between 2002 and the date of the spin-off. After joining the company in 1985, he worked extensively across Central Europe, including as Managing Director of PM Poland and President of the Eastern European Region. Calantzopoulos holds a degree in electrical engineering from Swiss Federal Institute of Technology in Lausanne and an MBA from INSEAD in France.
Kieran Poynter	Senior Independent Director	Kieran Poynter became a Non-Executive Director of British American Tobacco p.l.c. in July 2010. He became Senior Independent Director in October 2016. He is Chairman of the Audit Committee and a member of the Nominations Committee. Kieran brings a wealth of financial and international experience to the Board. A chartered accountant, he retired from PricewaterhouseCoopers in 2008 after 37 years with the firm, the last eight as Chairman and Senior Partner. He joined Price Waterhouse as a graduate trainee in 1971 and qualified as a chartered accountant in 1974. Among his achievements was leading the successful integration of Price Waterhouse and Coopers & Lybrand following their merger in 1998. Kieran is currently a Non-Executive Director at International Consolidated Airlines Group S.A. and Chairman of F&C Asset Management plc and he is a former Chairman of Nomura International plc. He has also served on the President’s Committee of the Confederation of British Industry and as a member of an advisory committee for the Chancellor of the Exchequer. Kieran, married and a father of four, is a keen Chelsea football supporter.
Nicandro Durante	Chief Executive	Nicandro has extensive leadership skills developed in various senior international roles in the Group. He originally joined the Board of British American Tobacco p.l.c. as Chief Operating Officer in January 2008 after almost two years in the role of Regional Director for Africa & Middle East. Nicandro was appointed Chief Executive Designate in September 2010. Nicandro, who is Brazilian / Italian, holds degrees in finance, economics and business administration. He joined British American Tobacco’s Brazilian subsidiary Souza Cruz in 1981, after three years working in finance in two Brazilian companies and built a successful finance career. In 1995 he was seconded to the UK head office. In 1997 Nicandro was appointed Finance Director in Hong Kong before returning to Brazil in 2000 as Finance Director for Souza Cruz. In April 2002 he was appointed President of Souza Cruz. Nicandro was appointed as a Non-Executive Director of Reckitt Benckiser Group plc in December 2013.
Ben Stevens	Finance Director	Ben joined the Board of British American Tobacco p.l.c. in March 2008 and was appointed to the role of Finance Director in April 2008. He was previously Director of British American Tobacco’s Europe region, a position he had held since 2004. Ben has broad international experience spanning both senior finance and general management roles. He joined British American Tobacco in 1990 as Regional Finance Controller with responsibilities for Europe, East Africa and South Asia and in 1994 moved to Switzerland where he worked in a variety of marketing roles. In 1995 Ben became Chairman and Managing Director of the Pakistan Tobacco Company before being appointed Chairman and Managing Director of British American Tobacco Russia in 1997. In 1998 he returned to the UK as Head of Corporate Affairs for the newly listed British American Tobacco p.l.c. and in the following year was appointed Head of Merger Integration following the merger with Rothmans. He was appointed to the Management Board as Development Director in April 2001 where his responsibilities included corporate strategy, mergers and acquisitions and IT. Ben was elected as a member of the Board of Directors of ISS A/S on 5 April 2016. Ben, a graduate of Manchester University and the Manchester Business School, is married with two children.
Sue Farr	Non-Executive Director	Sue Farr was appointed to the Board of British American Tobacco p.l.c. as a Non-Executive Director in February 2015. She is a member of the Nominations and Remuneration Committees. Sue brings considerable experience in marketing, branding and consumer issues to the Board. She spent seven years working for the British Broadcasting Corporation (BBC) as their Director of Marketing and Communications. She is also the former Chairwoman of both The Marketing Society and the Marketing Group of Great Britain. Sue is a Special Advisor at Chime Communications, where she was Director of Strategic and Business Development from 2003 until 2015. She is also a Non-Executive Director of Millennium & Copthorne Hotels plc, Accsys Technologies plc and Dairy Crest plc. She was previously a Non-Executive Director with New Look, the global fashion retailer. With an extensive career in corporate communications, in both agency and large private and public sector organisations, Sue was voted Advertising Woman of the Year in 1997, a Women in Advertising and Communications, London (WACL) Woman of Achievement in 1998 and awarded The Marketing Society's ‘Grand Prix' in 1998. She was awarded an Honorary Doctorate by the University of Bedfordshire in 2010 in recognition of her services to Marketing and Communications. Sue, who was educated at the University of Reading, lives in London with her husband.
Dr. Marion Helmes	Non-Executive Director	Dr. Marion Helmes joined the Board of British American Tobacco p.l.c. as a Non-Executive Director on 1 August 2016. She is a member of the Audit and Nominations Committees. Marion brings significant financial expertise and operational experience gained at an international level. A German national, Marion has spent her working life managing businesses across Europe, the americas and Asia. Her extensive career includes Chief Financial Officer positions at Celesio, Q-Cells and ThyssenKrupp Elevator Technology. Marion is Vice Chairwoman of the Supervisory Board of ProSiebenSat.1 Media; member of the Supervisory Boards of Siemens Healthineers AG, Uniper and Heineken N.V.; and a Non-Executive Director of NXP Semiconductors. Welcoming her to the Board, Chairman Richard Burrows said: "Marion’s financial expertise combined with the experience she can bring from other audit committees will further strengthen our company and our Board."
Luc Jobin	Non-Executive Director	Luc Jobin was appointed to the Board of British American Tobacco p.l.c. as a Non-Executive Director on 25 July 2017 following completion of the acquisition of Reynolds American Inc. He is a member of the Nominations and Remuneration Committees. Luc had been an independent director on the Board of Reynolds American Inc. since 2008 and was a member of the Audit and Finance Committee. Luc was President and Chief Executive Officer of Canadian National Railway Company, a position he held from July 2016 until 5 March 2018, having served as Executive Vice President and Chief financial Officer since 2009. He was Executive Vice President of Power Corporation of Canada from 2005 to 2009. Luc was Chief Executive Officer of Imperial Tobacco Canada, a subsidiary of the Company, from 2003 to 2005 and Executive Vice President and Chief Financial Officer from 1998 to 2003.
Holly Keller Koeppel	Non-Executive Director	Holly Keller Koeppel was appointed to the Board of British American Tobacco p.l.c. as a Non-Executive Director on 25 July 2017 following completion of the acquisition of Reynolds American Inc. She is a member of the Audit and Nominations Committees. Holly had been an independent director on the Board of Reynolds American Inc. since 2008. She was Chair of the Regulatory, Sustainability and Public Policy Committee and a member of the Audit and Finance Committee at Reynolds American Inc. Up until April 2018, Holly was a Senior Advisor to Corsair Capital LLC, where she had previously served as Managing Partner and Co-Head of Infrastructure from 2015 until her retirement in 2017. From 2010 to 2015, she served as Co-Head of Citi Infrastructure Investors and prior to 2010 she held financial and executive management roles with American Electric Power Company, Inc. and Consolidated Natural Gas Company. Holly currently holds Non-Executive Director roles at Vesuvius plc and The AES Corporation.
Savio Kwan	Non-Executive Director	Savio Kwan was appointed to the Board of British American Tobacco p.l.c. as a Non-Executive Director in January 2014. He is a member of the Nominations and Remuneration Committees. Savio brings significant business leadership experience of Greater China and Asia to the Board. During his extensive career he has worked broadly in technology for General Electric, BTR plc and Alibaba Group, China’s largest internet business, where he was Chief Operating Officer and later, a Non-Executive Director. He is a founding partner and CEO of A&K Consulting Co Ltd, advising entrepreneurs about start-up businesses in China. Savio is a Non-Executive Director of the Alibaba Hong Kong Entrepreneur Fund. Born in Hong Kong, Savio speaks fluent Mandarin and English. His international career has seen him live in China, the US, Singapore and the UK. He is a visiting Professor at Henley Business School and a regular lecturer on Chinese business strategy and leadership. Savio is married with one adult child, and lives in Hong Kong.
Lionel L. Nowell, III	Non-Executive Director	Lionel L. Nowell, III was appointed to the Board of British American Tobacco p.l.c. as a Non-Executive Director on 25 July 2017 following completion of the acquisition of Reynolds American Inc. He is a member of the Audit and Nominations Committees. Lionel had been the Lead Independent Director of the Board of Reynolds American Inc. since January 2017, having served as a director since 2007, and was a member of the Compensation and Leadership Development Committee and the Corporate Governance and Nominating Committee. Lionel retired as Senior Vice President and Treasurer of PepsiCo in 2009, where he had held senior financial executive roles since 1999. Prior to PepsiCo, Lionel was Senior Vice President, Strategy and Business Development at RJR Nabisco, Inc. from 1998 to 1999 and held a variety of senior financial roles at the Pillsbury division of Diageo PLC from 1991 to 1998. He is currently a Non-Executive Director at American Electric Power Company, Inc. and Bank of America Corporation.
Dimitri Panayotopoulos	Non-Executive Director	Dimitri Panayotopoulos was appointed to the Board of British American Tobacco p.l.c. as a Non-Executive Director in February 2015. He is Chairman of the Remuneration Committee and a member of the Nominations Committee. Dimitri has extensive general management and international sales and brand building expertise. He spent more than 37 years working for consumer goods company Procter & Gamble. He began his career in 1977 as a salesman in the UK and went onto become Vice Chairman and Advisor to the Chairman and CEO before retiring from Procter & Gamble in January 2014. Having worked in many markets across the globe, Dimitri was involved in and led significant breakthrough innovations. He continued to focus on this aspect of the business, speed to market and scale across all of Procter & Gamble’s businesses while Vice Chairman of all Global Business Units. Dimitri has been a Senior Advisor at the Boston Consulting Group, the global management consulting firm, since April 2014 and is a Board member at Logitech International S.A. He is also an Advisory Board member of JBS USA and Chairman of Coveris Holdings S.A. Born in Tanzania, Dimitri speaks Greek, Swahili, English, French and German. He lives in the Netherlands with his wife and has nine children.

Key Executives

Name	Position	Bio
...	Chairman of the Board	...

Investments in Unconsolidated Subsidiaries ("significant" > 20 percent management control):

An unconsolidated subsidiary is a company that is owned by a parent company, but whose individual financial statements are not included in the consolidated or combined financial statements of the parent company to which it belongs. Instead, this type of company appears in the combined financial statement as an investment.

Subsidiary Name	Country	Interest amount (percentage)	Interest Type	Notes
Emirati Investors-TA (FZC)	United Arab Emirates	49	Equity

List of Significant Subsidiaries

Subsidiary Name	State or Country of Organization	Region
Philip Morris Japan Limited	Japan	East Asia & Australia

2018 Forecast

...

Profitability

Annual trends

Fiscal year (January to December)(in billions USD)	2017	2016	2015	2014	2013
Revenues or Net Sales	$--.--	$--.--	$--.--	$--.--	$--.--
Gross Profit	$--.--	$--.--	$--.--	$--.--	$--.--

Profits per region (in millions USD)

Region

Region	2017	2016	2015	2014	2013
Net Revenues		$-	$-	$-
Excise taxes on products		$-	$-	$-
Net Revenues, excluding excise taxes on products		$-	$-	$-
Operating companies income		$-	$-	$-

Acquisitions

Recent acquisitions	Acquired Organization Name	Acquiring Organization Name	Announced Date	Value
x acquired by y	x	y	z/zz/zzzz	$0.00

Investments

Investments	Organizational Name	Funding Type	Money Raised	Announced Date
a	b	c	d	zz/zz/zzzz

Volumes

Volume of Cigarettes by Region

Region	2017 (Billions) (percent)	2016 (Billions)	2015 (Billions)	2014 (Billions)	2013 (Billions)
Region 1	- (-)	-	-	-	-
Region 2	- (-)	-	-	-	-
Region 3	- (-)	-	-	-	-
Region 4	- (-)	-	-	-	-
Total	- (-)	-	-	-	-

Product unit volume

Product Category	2017	2016	2015	2014	2013
Tobacco Units (in billions)	-	-	-	-	-
Heated tobacco (in billions)	-.-	-.-	-.-	-.-	-.-
Total	-.-	-.-	-.-	-.-	-.-
Percentage	-.-	-.-	-.-	-.-	-.-