British American Tobacco announces board changes, continues share buyback

British American Tobacco (BAT) announced that Jerome Abelman will step down as director, legal and general counsel on December 31, 2025. Paul McCrory, currently director, corporate and regulatory affairs, will succeed him, effective January 1, 2026. McCrory will first assume the role of director, legal and general counsel designate on October 1, 2025. Kingsley Wheaton, chief corporate officer, will take over McCrory’s former responsibilities from October 1, 2025.

Concurrently, BAT disclosed the purchase of 119,925 of its ordinary shares of GBp25 each on September 10, 2025, as part of its buyback program announced on March 18, 2024. The shares were acquired from Banco Santander, S.A. at prices ranging from GBp4,128.00 to GBp4,185.00, with a volume weighted average price of GBp4,156.6984. These purchased shares will be cancelled.

Following the cancellation, British American Tobacco will have 2,189,287,790 ordinary shares in issue (excluding treasury shares) and will hold 132,999,412 ordinary shares in treasury.