British American Tobacco (BAT) Chairman Evanson Mwaniki (R) announced his retirement on Friday. FILE
The chairman of British American Tobacco, Kenya, Mr Evanson Mwaniki, has retired from the company’s board.
He will be replaced by the existing non-executive director, Mr George Maina.
BAT announced the retirement on Friday. Mr Mwaniki has served the company as a board chairman since 1995 when he joined as a non-executive director, becoming chairman in November of the same year, a position he has held since then.
During his tenure at BAT, the company enjoyed exceptional growth in shareholder value, which saw it remain the leading cigarette company in industry.
“The management has worked exceptionally hard to deliver these results and has shown a commitment to succeed that is seldom matched in the commercial world, despite the challenges they face” he said in Nairobi recently. “I am merely their leader”.
The firm has expanded over the past five years to become a regional hub. Growing exports and domestic demand have resulted in an investment in excess of Sh5 billion, enabling production and innovation.
The company’s current market capitalisation is Sh57 billion, while the share price was at Sh574 on August 30.
- Nation
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