BAT Brings Back Industry Veteran as CFO to Steer Smokeless Transition

The latest update is out from British American Tobacco ( (GB:BATS) ).

British American Tobacco has appointed Dragos Constantinescu as Chief Financial Officer and Executive Director, effective 1 September 2026, bringing him back to the group after senior roles at Asahi Breweries and a prior 16‑year career at BAT in finance and general management. Interim CFO Javed Iqbal will remain in post until Constantinescu’s arrival and then continue as Director of Digital & Information, underscoring continuity in the company’s digital and cost‑saving programmes.

Chair Luc Jobin and CEO Tadeu Marroco said Constantinescu’s combination of financial expertise, international FMCG experience and deep familiarity with BAT will support the group’s strategic transformation and focus on quality growth and strong cash returns. BAT disclosed that his base salary will be £820,000 per year with additional buy‑out awards aligned to its shareholder‑approved remuneration policy, signalling the board’s willingness to invest in leadership to drive its transition toward a smokeless portfolio and deliver disciplined returns to investors.

Constantinescu said he is keen to help shape BAT’s strategic priorities as it advances its “A Better Tomorrow” transformation, highlighting the importance of disciplined execution and shareholder returns. The appointment comes as BAT accelerates its shift toward smokeless products and maintains a strong sustainability profile, including a recent Triple A rating from CDP for climate, water and forests disclosures, which together may further bolster its position in the evolving global nicotine market.

The most recent analyst rating on (GB:BATS) stock is a Hold with a £41.50 price target. To see the full list of analyst forecasts on British American Tobacco stock, see the GB:BATS Stock Forecast page.

Spark’s Take on BATS Stock

According to Spark, TipRanks’ AI Analyst, BATS is a Outperform.

The score is driven primarily by solid-but-not-clean financial performance (profitability strength offset by leverage and a notable 2025 cash-flow decline). Valuation is supportive due to the high dividend yield and moderate P/E, while technicals are broadly neutral. Earnings-call guidance and capital-return plans help, but are tempered by vapor/illicit pressures and regional weakness.

To see Spark’s full report on BATS stock, click here.

More about British American Tobacco

British American Tobacco is a leading global consumer goods group focused on tobacco and nicotine products, spanning traditional cigarettes and a rapidly growing portfolio of smokeless alternatives such as vapour devices, heated tobacco and modern oral nicotine pouches. The company, which generated £25.6bn in revenue in 2025 and employs more than 47,000 people, is targeting 50 million adult users of smokeless products by 2030 and aims for these to contribute half of group revenue by 2035.

Average Trading Volume: 4,394,892

Technical Sentiment Signal: Strong Buy

Current Market Cap: £95.98B

For a thorough assessment of BATS stock, go to TipRanks’ Stock Analysis page.