Tobacco giant BAT has found its new chief financial officer, after poaching Asahi Europe & International’s CEO Dragos Constantinescu back from the drinks giant.
Joining from 1 September, Constantinescu will replace interim CFO Javed Iqbal, who will continue at BAT in his role as the company’s director for digital and information.
The move marks a return to BAT for Constantinescu, who served the company for 16 years pre-pandemic, working his way up from being a management trainee to leading BAT’s business in central and Baltic Europe.
After seven years at Asahi, he will now return to BAT, where his experience with the company will be a “key asset”, according to CEO Tadeu Marroco.
“Dragos joins the management board at an important stage in BAT’s transformation,” he said.
“His international experience alongside a strong understanding of BAT will be key assets as we continue to focus on quality growth, the sustainable delivery of our mid-term growth algorithm and robust cash returns.”
“[Constantinescu] brings a strong combination of financial expertise, broad enterprise leadership and international experience in both nicotine and the wider fmcg sector,” added chairman Luc Jobin.
“Dragos also brings deep experience across transformation, strategy and growing an international business, which, together with his collaborative leadership, represent important qualities for the board and management team at BAT.”
Constantinescu added he was “excited” to rejoin the company.
“BAT has a clear transformation strategy and is building positive momentum in its transformation toward A Better Tomorrow. I look forward to working with Tadeu, the board and the management team to help shape and support BAT’s strategic priorities through this transformation, while ensuring disciplined execution and strong returns to shareholders.”
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