The head of Imperial Brands, manufacturer of Winston and Davidoff cigarettes, has revealed that he will retire after a robust drive in the sales of tobacco raised the company’s market share. The United Kingdom-based multinational firm reported impressive increases in key markets such as the U.S. and Germany and enhanced its stature in the fiercely competitive tobacco market.
Imperial Brands recorded a significant rise in its tobacco business in the first half of the year, boosted by strong demand in America and Germany. The growth assisted the company in widening its market share despite the rising regulatory and health-related challenges in global tobacco consumption.
The retiring CEO was instrumental in guiding the company through a phase of strategic changes, such as investments in future-generation products such as vaping and heated tobacco. Traditional cigarettes, however, continue to be the central revenue generator, with Winston and Davidoff taking the lead in key markets.
As Imperial Brands embarks on the hunt for a successor, tobacco industry observers will be keen to observe whether the company continues to pursue its aggressive tobacco sales model or shifts further toward reduced-risk products. The shift is well-timed as the tobacco giant navigates profitability against changing consumer tastes.
