by TMR / pic by TMR FILE
BRITISH American Tobacco (Malaysia) Bhd’s current Managing Director, Jonathan Reed, has resigned from his position to take up the role of Group Head of Combustibles with British American Tobacco PLC from 1 September 2021.
Reed will be succeeded by Nedal Salem, currently Managing Director and Chief Executive Officer of Ceylon Tobacco Company PLC, BAT said in a statement today.
“In a career spanning over two decades in senior Marketing and General Management roles in Europe, the Middle East, Indonesia, the South Pacific and in his current role in Kuala Lumpur, Reed has left behind a strong legacy of leadership and transformative commercial results across the BAT Group, none more so than in his role leading BATM,” said BAT.
During his tenure at BATM, Reed has been instrumental in returning the company to growth after years of decline, overseeing share, volume and profit growth as well as leading a fundamental talent and leadership reboot and significant fight against the tobacco black market.
For the first half of 2021, BATM achieved a profit from operations of RM193 million, a 25% increase from the RM154 million recorded in the same period last year while revenue for the same period increased by 13% to RM1.16 billion compared to the same period last year.
BATM also declared a second interim dividend of 24.0 sen per share, amounting to RM69 million to be paid out on 20 August 2021 to shareholders.