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Imperial Brands Appoints Inchcape's Stefan Bomhard As CEO - Quick Facts

UK-based tobacco giant Imperial Brands plc (IMB.L,IMBBF.PK,IMBBY.PK) announced Monday the appointment of Stefan Bomhard as Chief Executive Officer, effective at a date to be announced. Bomhard will join from Inchcape Plc (INCH.L), a multi-brand automotive distributor and retailer, where he has been Chief Executive for around five years.

Bomhard succeeds Alison Cooper, who has stepped down as Chief Executive and as a Board director with immediate effect. In October last year, Cooper announced intention to step down from the role of CEO and from the Board.

In a statement, Inchcape announced that its Board will now commence a succession process and Bomhard's departure date will be announced in due course.

Imperial further announced that Matthew Phillips has stepped down as Chief Development Officer and as a Board director with immediate effect.

Until Bomhard's appointment, Dominic Brisby, currently Divisional Director, Americas, Africa, Asia and Australasia, and Joerg Biebernick, Divisional Director, Europe, will assume the roles of Joint Interim Chief Executive Officers, reporting directly to Thérèse Esperdy, Non-Executive Chair of the Board.

Esperdy, said, "Stefan has significant experience across multiple consumer sectors and within large multinational organisations, particularly in brand building and consumer-led sales and marketing. ... Stefan's initial priorities will be to strengthen performance and enhance shareholder value."

He was appointed Chief Executive of Inchcape in 2015. Before joining Inchcape, Bomhard was President of Bacardi Limited's European region and was also responsible for Bacardi's Global commercial organisation and Global Travel Retail.

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