Imperial Brands CEO to step down
UK-based global tobacco firm Imperial Brands has announced that Chief Executive Officer Alison Cooper is stepping down from her role once a suitable successor is found.
Cooper has been at the helm of the tobacco company for nine years and is one of only a handful of female CEOs to lead a FTSE 100-listed company.
News of Cooper’s departure comes after Imperial Brands announced a profit warning following a backlash in the US over vaping.
"Alison has worked tirelessly and with great energy and passion during her 20 years with Imperial, nine of which have been as CEO, and the Board would like to thank her for the tremendous contribution she has made”, said Imperial Brands Chairman Mark Williamson.
"During her tenure as CEO the business has been significantly simplified and reshaped to strengthen its long-term growth potential, and more than £10 billion in dividends has been returned to shareholders.
“I am pleased that Alison has committed to continue to lead the business until a successor is appointed, ensuring an orderly transition of responsibilities."
Imperial’s shares were trading nearly half a per cent lower at £18.22 in London following the announcement. They are also down 21% since the start of the year.