BAT Kenya’s finance director Philip Lopokoiyit is set to resign from the cigarette manufacturer on May 1, the Nairobi Securities Exchange-listed firm has announced.
Mr Lopokoiyit, 50, has held the position since November 2010. “The board of directors of British American Tobacco Kenya hereby announces the resignation of Mr Philip Lopokoiyit as finance director effective May 1, 2017,” the company said in a statement.
“Mr Lopokoiyit has communicated his desire to pursue other interests and opportunities outside of the group.”
Tighter control
BAT added that he will remain with the company to ensure smooth transition, with a successor expected to be announced soon. Mr Lopokoiyit has commercial and financial experience in several markets.
The cigarette maker’s pre-tax profit rose steadily from Sh4.5 billion in 2011 to Sh7.1 billion in 2015 as increased exports helped the company navigate tighter tobacco control laws in the local market.
He joined BAT’s parent company, London-based BAT Plc, in 1996 and has held various positions in its African operations over the years. These include finance roles in the Horn of Africa, East and West Africa.
Mr Lopokoiyit joined the board of CIC Insurance Group in November 2015 as an independent director and chairman of the audit committee.
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