British American Tobacco p.l.c.

JSE:BTI Stock Report

Market Cap: R2.0t

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 11.17 years. total yearly compensation is £5.96M, comprised of 23% salary and 77% bonuses, including company stock and options. directly owns 0.009% of the company’s shares, worth ZAR181.80M. The average tenure of the management team and the board of directors is 5 years and 4.3 years respectively.

Key information

Tadeu Marroco

Chief executive officer

UK£6.0m

Total compensation

CEO salary percentage23.04%
CEO tenure11.2yrs
CEO ownership0.009%
Management average tenure5yrs
Board average tenure4.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tadeu Marroco's remuneration changed compared to British American Tobacco's earnings?
DateTotal CompensationSalaryCompany Earnings
Jun 30 2025n/an/a

UK£3b

Mar 31 2025n/an/a

UK£3b

Dec 31 2024UK£6mUK£1m

UK£3b

Sep 30 2024n/an/a

-UK£5b

Jun 30 2024n/an/a

-UK£14b

Mar 31 2024n/an/a

-UK£14b

Dec 31 2023UK£5mUK£1m

-UK£14b

Sep 30 2023n/an/a

-UK£3b

Jun 30 2023n/an/a

UK£9b

Mar 31 2023n/an/a

UK£8b

Dec 31 2022UK£5mUK£803k

UK£7b

Sep 30 2022n/an/a

UK£6b

Jun 30 2022n/an/a

UK£5b

Mar 31 2022n/an/a

UK£6b

Dec 31 2021UK£3mUK£803k

UK£7b

Sep 30 2021n/an/a

UK£6b

Jun 30 2021n/an/a

UK£6b

Mar 31 2021n/an/a

UK£6b

Dec 31 2020UK£3mUK£775k

UK£6b

Sep 30 2020n/an/a

UK£6b

Jun 30 2020n/an/a

UK£6b

Mar 31 2020n/an/a

UK£6b

Dec 31 2019UK£2mUK£301k

UK£6b

Compensation vs Market: Tadeu's total compensation ($USD7.85M) is above average for companies of similar size in the ZA market ($USD3.35M).

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

CEO

Tadeu Marroco (59 yo)

11.2yrs
Tenure
UK£5,964,000
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

NamePositionTenureCompensationOwnership
Tadeu Marroco
CEO, Member of Management Board & Executive Director11.2yrsUK£5.96m0.0091%
ZAR 181.8m
Soraya Benchikh
Executive Officerless than a yearUK£4.78m0.0018%
ZAR 36.0m
Syed Iqbal
Interim CFO3.6yrsno data0.00013%
ZAR 2.6m
David Waterfield
Member of Management Board2.3yrsno datano data
Kingsley Wheaton
Chief Corporate Officer & Member of Management Board13.8yrsno data0.0051%
ZAR 101.1m
Johan Vandermeulen
COO & Member of Management Board11.2yrsno data0.0042%
ZAR 83.7m
Jerome Abelman
Director of Legal10.8yrsno data0.0047%
ZAR 93.5m
Paul McCrory
Director of Corporate & Regulatory Affairs and Member of Management Board2.2yrsno datano data
James Barrett
Director of Business Development & Member of Management Board2.2yrsno datano data
Luciano Comin
CMO & Member of Management Board6.8yrsno data0.0029%
ZAR 58.5m
Mihovil Dijanosic
Regional Director of Asia-Pacific5.2yrsno data0.0027%
ZAR 52.9m
Zafar Khan
Member of the Management Board & Director of Operations4.8yrsno data0.0013%
ZAR 26.4m
5.0yrs
Average Tenure
53yo
Average Age

Experienced Management: BTI's management team is considered experienced (5 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Tadeu Marroco
CEO, Member of Management Board & Executive Director6.3yrsUK£5.96m0.0091%
ZAR 181.8m
Holly Koeppel
Senior Independent Non-Executive Director8.3yrsUK£174.00kno data
Matthew Wright
Independent Non-Executive Directorno datano datano data
Luc Jobin
Independent Chairman of the Board8.3yrsUK£728.00k0.0042%
ZAR 82.9m
Uta Kemmerich-Keil
Independent Non-Executive Directorless than a yearno datano data
Karen Guerra
Independent Non-Executive Director5.2yrsUK£136.00k0.0011%
ZAR 21.6m
Serpil Timuray
Independent Non-Executive Director1.9yrsUK£137.00k0.00015%
ZAR 3.0m
Krishnan Anand
Independent Non-Executive Director3.8yrsUK£156.00k0.00035%
ZAR 7.0m
Veronique Laury-Deroubaix
Independent Non-Executive Director3.2yrsUK£136.00k0.000080%
ZAR 1.6m
James Thomas
Independent Non-Executive Director4.9yrsUK£156.00kno data
4.3yrs
Average Tenure
65yo
Average Age

Experienced Board: BTI's board of directors are considered experienced (4.3 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/15 00:46
End of Day Share Price 2025/11/14 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

British American Tobacco p.l.c. is covered by 29 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David ColemanArgus Research Company
Michael SteereAvior Capital Markets
Gaurav JainBarclays