Imperial Brands (f.k.a. Imperial Tobacco Group) was recently warned over the grave repercussions of vaping in the United States. On Thursday, the British tobacco giant’s CEO Alison Cooper handed in his resignation amid the vaping chaos.
Imperial Brands (f.k.a. Imperial Tobacco Group) was recently warned over the grave repercussions of vaping in the United States. On Thursday, the British tobacco giant’s CEO Alison Cooper handed in her resignation amid the vaping chaos.
During her twenty-year tenure, Cooper served nine years as the Chief Executive Officer at Imperial. In a statement that explained the reason for her exit, Imperial said she will leave as soon as a successor replaces her.
“Alison has worked tirelessly and with great energy and passion… and the board would like to thank her for the tremendous contribution she has made,” said Chairman Mark Williamson.
“During her tenure as chief executive, the business has been significantly simplified and reshaped to strengthen its long-term growth potential, and more than $12 billion in dividends has been returned to shareholders.”
One week before the announcement, Imperial issued a warning notice hinting at dreary, attributing the drop in the earnings to the “challenging” next-generation products that have hit the American store shelves, as well as an unsatisfactory performance from its other divisions in Africa, Asia and Australasia.
Dropping from its previous 4.0 percent annual revenue growth forecast, Imperial had to cut it to as low as 2.0 percent. The maker of vaping brand blu, as well as cigarettes such as Gauloises, Winston, and the popular Davidoff is searching for a new chairman to replace Williamson.
After Juul company CEO stepped down, this is the second biggest company whose CEO had stepped down from the position.
What do you think about CEOs stepping down from their positions as vaping tighten its deadly grip on America? Do you think this will help to create awareness regarding vaping products causing illness? Let us know your views in the comments section below.