British American Tobacco (BAT) has announced the appointment of Caroline Ferland as its new group company secretary and assistant general counsel.
Ferland replaces Paul McCrory in the role, who has been promoted to the position of group director, corporate and regulatory affairs.
'Extensive Experience'
In a statement, BAT said that with a career of more than 20 years with the company, boasting 'extensive experience enabling [the company] to operate with integrity in highly regulated environments', Ferland has held a number of senior positions across legal and external affairs functions.
This includes the head of CORA in Canada, the company's first group head of business conduct and compliance, and more recently, the position of group head of commercial and regulatory litigation.
Exit From Russia
Last week, the tobacco firm officially signed an agreement to divest its Russian and Belarusian operations, aligning with local and global regulations.
The acquisition of these businesses will be overseen by a consortium led by BAT Russia's management team. Upon completion of the transaction, the new entity will be rebranded as ITMS Group. This acquisition encompasses both BAT's former Russian and neighbouring Belarusian operations.
In March 2022, BAT had said that maintaining ownership of its Russian business was no longer viable in light of Russia's invasion of Ukraine, and it had expressed its intention to divest the division.
In the first half of its financial year, the group reported a 4.4% increase in revenue (+2.6% at constant currency rates), which it said was driven by a positive performance from its 'New Categories' business, which saw revenue up 26.6%.
