British American Tobacco Management

Management criteria checks 3/4

British American Tobacco's CEO is Tadeu Marroco, appointed in Sep 2014, has a tenure of 10.17 years. total yearly compensation is £4.59M, comprised of 25% salary and 75% bonuses, including company stock and options. directly owns 0.006% of the company’s shares, worth ZAR83.87M. The average tenure of the management team and the board of directors is 4 years and 3.3 years respectively.

Key information

Tadeu Marroco

Chief executive officer

UK£4.6m

Total compensation

CEO salary percentage	25.0%
CEO tenure	10.2yrs
CEO ownership	0.006%
Management average tenure	4yrs
Board average tenure	3.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tadeu Marroco's remuneration changed compared to British American Tobacco's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	-UK£14b
Mar 31 2024	n/a	n/a	-UK£14b
Dec 31 2023	UK£5m	UK£1m	-UK£14b
Sep 30 2023	n/a	n/a	-UK£3b
Jun 30 2023	n/a	n/a	UK£9b
Mar 31 2023	n/a	n/a	UK£8b
Dec 31 2022	UK£5m	UK£803k	UK£7b
Sep 30 2022	n/a	n/a	UK£6b
Jun 30 2022	n/a	n/a	UK£5b
Mar 31 2022	n/a	n/a	UK£6b
Dec 31 2021	UK£3m	UK£803k	UK£7b
Sep 30 2021	n/a	n/a	UK£6b
Jun 30 2021	n/a	n/a	UK£6b
Mar 31 2021	n/a	n/a	UK£6b
Dec 31 2020	UK£3m	UK£775k	UK£6b
Sep 30 2020	n/a	n/a	UK£6b
Jun 30 2020	n/a	n/a	UK£6b
Mar 31 2020	n/a	n/a	UK£6b
Dec 31 2019	UK£2m	UK£301k	UK£6b

Compensation vs Market: Tadeu's total compensation ($USD5.91M) is above average for companies of similar size in the ZA market ($USD3.19M).

Compensation vs Earnings: Tadeu's compensation has been consistent with company performance over the past year.

CEO

Tadeu Marroco (58 yo)

10.2yrs

Tenure

UK£4,588,000

Compensation

Mr. Tadeu Luiz Marroco serves as Executive Director at British American Tobacco p.l.c. since August 5, 2019 and served as its Transformation Director since February 2021 until 2023. He serves as Chief Exec...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Tadeu Marroco	CEO, Member of Management Board & Executive Director	10.2yrs	UK£4.59m	0.0061% ZAR 83.9m
Soraya Benchikh	CFO, Member of Management Board & Executive Director	less than a year	no data	no data
David Waterfield	Member of Management Board	1.3yrs	no data	no data
Kingsley Wheaton	Chief Corporate Officer & Member of Management Board	12.8yrs	no data	0.0045% ZAR 62.3m
Johan Vandermeulen	COO & Member of Management Board	10.2yrs	no data	0.0037% ZAR 51.3m
Jerome Abelman	Director of Legal	9.8yrs	no data	0.0042% ZAR 57.7m
Paul McCrory	Director of Corporate & Regulatory Affairs and Member of Management Board	1.2yrs	no data	no data
James Barrett	Director of Business Development & Member of Management Board	1.2yrs	no data	no data
Luciano Comin	CMO & Member of Management Board	5.8yrs	no data	0.0024% ZAR 32.5m
Mihovil Dijanosic	Regional Director of Asia-Pacific	4.2yrs	no data	0.0021% ZAR 28.1m
Zafar Khan	Member of the Management Board & Director of Operations	3.8yrs	no data	0.0010% ZAR 13.9m
Syed Iqbal	Director of Digital & Information and Member of Management Board	2.6yrs	no data	no data

4.0yrs

Average Tenure

51yo

Average Age

Experienced Management: BTI's management team is considered experienced (4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Tadeu Marroco	CEO, Member of Management Board & Executive Director	5.3yrs	UK£4.59m	0.0061% ZAR 83.9m
Soraya Benchikh	CFO, Member of Management Board & Executive Director	less than a year	no data	no data
Murray Kessler	Independent Non-Executive Director	less than a year	UK£20.00k	0.00023% ZAR 3.2m
Holly Koeppel	Senior Independent Non-Executive Director	7.3yrs	UK£161.00k	no data
Luc Jobin	Independent Chairman of the Board	7.3yrs	UK£705.00k	0.0041% ZAR 56.1m
Karen Guerra	Independent Non-Executive Director	4.2yrs	UK£132.00k	0.0011% ZAR 14.5m
Serpil Timuray	Independent Non-Executive Director	less than a year	UK£10.00k	no data
Krishnan Anand	Independent Non-Executive Director	2.8yrs	UK£132.00k	0.00034% ZAR 4.7m
Veronique Laury-Deroubaix	Independent Non-Executive Director	2.2yrs	UK£131.00k	0.000070% ZAR 960.8k
James Thomas	Independent Non-Executive Director	3.9yrs	UK£132.00k	no data

3.3yrs

Average Tenure

65yo

Average Age

Experienced Board: BTI's board of directors are considered experienced (3.3 years average tenure).

British American Tobacco Management

Management criteria checks 3/4

Key information

Recent management updates

British American Tobacco p.l.c. Announces Executive Changes

High number of new directors

Independent Non-Executive Director recently bought R2.4m worth of stock

British American Tobacco p.l.c. Announces Board Changes

Insider recently bought R1.3m worth of stock

British American Tobacco P.L.C. Announces Directorate Change

Recent updates

Dividend of UK£0.59 announced

Dividend of UK£0.59 announced

Upcoming dividend of UK£0.59 per share

British American Tobacco p.l.c. Announces Executive Changes

British American Tobacco P.L.C. Announces Quarterly Dividend, Payable on November 1, 2024

British American Tobacco p.l.c. to Report Fiscal Year 2024 Results on Feb 13, 2025

First half 2024 earnings released: EPS: UK£2.01 (vs UK£1.77 in 1H 2023)

Price target decreased by 15% to R705

Dividend of UK£0.59 announced

Upcoming dividend of UK£0.59 per share

British American Tobacco p.l.c. Announces Quarterly Dividend for the Year Ended 31 December 2023, Payable on 2 August 2024

High number of new directors

British American Tobacco p.l.c. (LSE:BATS) announces an Equity Buyback for £1,600 million worth of its shares.

BAT Reportedly to Launch ITC Selldown as Soon as This Week

British American Tobacco P.L.C. Declares Quarterly Interim Dividends for the Year Ended 31 December 2023, Payable on August 2024, November 2024 and February 2025

Upcoming dividend of UK£0.59 per share

Glancy Prongay & Murray LLP Announces Securities Fraud Class Action Lawsuit Against British American Tobacco P.L.C

Independent Non-Executive Director recently bought R2.4m worth of stock

British American Tobacco Reportedly Looks to Raise $2.5 Billion by Trimming Stake in ITC

Fourth quarter dividend of UK£0.59 announced

British American Tobacco p.l.c. to Report Fiscal Year 2023 Final Results on Mar 14, 2024

Full year 2023 earnings released: UK£6.47 loss per share (vs UK£2.93 profit in FY 2022)

British American Tobacco p.l.c. Provides Revenue Guidance for the Full Year 2024

New major risk - Revenue and earnings growth

British American Tobacco p.l.c. Announces Board Changes

British American Tobacco p.l.c. Reaches Global Settlement with Philip Morris International Inc

Adinkra group acquired Several cigarette brands from British American Tobacco p.l.c. (LSE:BATS).

Rosen Law Firm Files a Class Action Lawsuit Against British American Tobacco p.l.c

Upcoming dividend of UK£0.58 per share at 10% yield

British American Tobacco p.l.c. Declares Quarterly Interim Dividend, Payable on 1 February 2024

Insider recently bought R1.3m worth of stock

British American Tobacco p.l.c. Reiterates Earnings Guidance for the Fiscal Year 2023

British American Tobacco P.L.C. Announces Directorate Change

British American Tobacco P.L.C. Announces Executive Changes

British American Tobacco p.l.c. Appoints Cora Koppe-Stahrenberg as Chief People Officer with Effect from 1 November 2023

British American Tobacco P.L.C. Announces Appointment of Murray S. Kessler to the Board as Independent Non-Executive Director and Member of the Nominations and Remuneration Committees, Effective on 6 November 2023

Upcoming dividend of R13.61 per share at 8.4% yield

British American Tobacco p.l.c. Declares Quarterly Interim Dividend, Payable on 3 November 2023

A consortium led by BAT Russia management acquired Russian and Belarusian businesses of British American Tobacco

A consortium led by BAT Russia management entered into an agreement to acquire Russian and Belarusian businesses of British American Tobacco.

A consortium led by BAT Russia management entered into an agreement to acquire Russian and Belarusian businesses of British American Tobacco.

British American Tobacco p.l.c. Appoints Caroline Ferland as Group Company Secretary, Effective 1 September 2023

First half 2023 earnings released: EPS: UK£1.77 (vs UK£0.81 in 1H 2022)

British American Tobacco p.l.c. to Report Fiscal Year 2023 Results on Feb 08, 2024

Upcoming dividend of UK£0.58 per share at 8.8% yield

British American Tobacco P.L.C. Declares Quarterly Dividend, Payable on August 18, 2023

British American Tobacco P.L.C. Announces Executive Changes

Kingsway Capital Reportedly in Talks with British American Tobacco and Japan Tobacco over Air Stake Sale

Insider recently bought R535k worth of stock

Price target increased by 11% to R970

British American Tobacco p.l.c. Reaffirms Earnings Guidance for the Year 2023

Insider recently bought R535k worth of stock

Insider recently bought R527k worth of stock

BAT plc Announces CEO Changes

Insider recently bought R527k worth of stock

Key Executive recently sold R16m worth of stock

Upcoming dividend of R12.71 per share at 7.7% yield

Independent Non-Executive Director recently bought R2.2m worth of stock

Price target decreased by 7.1% to R815

Full year 2022 earnings released: EPS: UK£2.93 (vs UK£2.97 in FY 2021)

British American Tobacco p.l.c., Annual General Meeting, Apr 19, 2023

British American Tobacco p.l.c. Announces Management Changes

Insider recently bought R1.4m worth of stock

Upcoming dividend of R11.43 per share

British American Tobacco P.L.C. Announces Quarterly Dividend for the Quarter Ended December 31, 2022, Payable on February 2, 2023

British American Tobacco p.l.c. Provides Revenue Guidance for Fiscal Year 2022

Upcoming dividend of UK£0.54 per share

British American Tobacco p.l.c. Declares Quarterly Interim Dividend, Payable on 10 November 2022

Director of Talent recently sold R3.5m worth of stock