REG - British Amer.Tobacco - Board Update - Chair Extension and SID Appointment

British American TobaccoAnnouncement

10/02/2026 09:00

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RNS Number : 3201S  British American Tobacco PLC  10 February 2026

British American Tobacco p.l.c. (the "Company" or "BAT")

 

10 February 2026

 

Board Update - Chair Extension and Senior Independent Director Appointment

The Company announces that, following a comprehensive Chair succession
process, the Board has decided to extend Luc Jobin's tenure as Chair. This
extension is for a period of up to two years until the Company's Annual
General Meeting (AGM) in April 2028, during which the search process will
continue with the aim of appointing a new Chair within that time. Luc will
continue to stand for annual re‑election at the Company's AGM.

 

Luc was appointed to the Board in July 2017, and as Chair in April 2021. In
July 2026, he will have served nine years on the Board, including five years
as Chair. A comprehensive Chair succession process led by Holly Keller
Koeppel, the Senior Independent Director, together with the Nominations
Committee was supported by external advisers.

 

Holly Keller Koeppel, Senior Independent Director, said:

"Luc is a proven and respected Chair who continues to lead the Board
effectively whilst providing thoughtful challenge and support to management
through the delivery of the Group's transformation agenda. Luc's prior service
on the Board means that an extension beyond July 2026 would represent a
departure from the UK Corporate Governance Code nine-year tenure
recommendation. The Board continues to be committed to maintaining high
standards of corporate governance and recognises the importance of Board
refreshment. Having run a thorough succession process, evaluating a number of
credible candidates against the Board's criteria including effective global
leadership at scale and the skills we are seeking to lead BAT through its
continued transformation, the Board concluded that extending Luc's tenure is
in the best interests of BAT at this time.  An extension period of up to two
years removes uncertainty during this important phase of the Group's
transformation, while providing the Nominations Committee with sufficient
flexibility to appoint the right candidate for BAT."

Having served on the Board since July 2017, Holly Keller Koeppel will step
down from the Board at the conclusion of the 2026 AGM and Karen Guerra will be
appointed to the role of Senior Independent Director, subject to re-election.
Karen has been closely involved in the Chair succession process to date and is
well placed to lead the refreshed search process and support an orderly
transition.

 

Luc Jobin, Chair, commented:

"I would like to thank Holly for her extensive contribution to the Board,
including as Senior Independent Director and Chair of the Audit Committee
before that. We wish her well in her future board endeavours. I look forward
to welcoming Karen as Senior Independent Director. Her experience and insight
will be invaluable as the search for my successor continues."

Enquiries

Media Centre

press_office@bat.com | @BATplc

Investor Relations

Victoria Buxton | IR_team@bat.com

 

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