Alison Cooper, the chief executive of British tobacco maker Imperial Brands, is to step down after nine years in the job and 20 years with the company.
In late September, Imperial Brands issued a profits warning, which sent its share price tumbling 13%, after warning that a US backlash against vaping would impact sales as retailers decided to stop stocking or not order more e-cigarette products, including Imperial’s Blu brand.
“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 Mark Williamson, chairman of Imperial Brands.
“During her tenure as CEO the business has been significantly simplified and reshaped to strengthen its long-term growth potential, and more than £10bn 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.”