APPOINTMENT

BAT picks new MD following Spencer's exit

The listed cigarette maker's share has been sliding at the Nairobi Securities Exchange

In Summary
  • Achola’s appointment takes effect January 1 next year when Beverley's resignation notice expires.
  • Achola is an insider at BAT, having worked at the firm from 1999 to 2017 where he held various senior roles within the group.

Exiting BAT MD Beverley Spencer
Image: COURTESY

Cigarette maker, British American Tobacco has appointed Crispin Achola as the firm’s new managing director, replacing Beverley Spencer who has resigned. 

In a statement, BAT’s company secretary Kathryne Maundu said Spencer will continue being in the company in an advisory capacity to ensure a smooth transition. 

Achola’s appointment takes effect January 1 next year when Beverley's resignation notice expires.

 

“During the last four years Beverley has transformed the business from a portfolio, value and people perspective,” Maundu said.

Maundu added that the exiting MD leaves behind a legacy of energising and inclusive leadership and has collaborated extensively with external stakeholders putting BAT Kenya on the manufacturing and top employer map.

Achola is an insider at BAT, having worked at the firm from 1999 to 2017 where he held various senior roles within the group.

He makes a comeback after a stint at, American multinational personal care firm Kimberley-Clark Corporation where he served as the general manager for West, East and Centra Africa. he served in the same capacity in Nigeria.

During his almost 10 years tenure at BAT, he served as managing director in Mozambique, cluster general manager Mozambique, Zambia, Zimbabwe, and Malawi, and managing director Sudan.

“The wealth of experience and commercial acumen that Achola has gained from working across numerous jurisdictions in Africa will be of immense value to BAT Kenya,” the company said in a media statement. 

The listed cigarette maker's share has been sliding at the Nairobi Securities Exchange but posted an eight percent growth in profit in six months to Sh2.7 billion.

The half-year growth in earnings from Sh2.5billion a year earlier is largely attributable to lower costs of operations and financing costs in the period.

 

The company’s costs of operations fell by 10.1 per cent to Sh6.8 billion as finance costs declined to Sh81 million in the period from Sh126 million last year.