British American Tobacco PLC (LSE:BATS) said Thursday that Dragos Constantinescu has been appointed Chief Financial Officer and Executive Director, with his tenure set to begin on September 1.
Constantinescu is currently Chief Executive Officer of Asahi Europe & International and has been part of Asahi Breweries since 2019. During his time at the company, he held several senior leadership roles across the region, including Managing Director for Czech, Slovakia, Germany & Austria, as well as Managing Director for Romania & Hungary.
Prior to joining Asahi, Constantinescu spent 16 years with BAT, where he held a range of senior finance and management positions. These included General Manager for Central Europe North and Finance Director and General Manager for BAT Poland.
Javed Iqbal will remain in the role of Interim Chief Financial Officer until Constantinescu formally assumes the position. After the transition, Iqbal will return to his previous post as Director, Digital & Information.
“He brings a strong combination of financial expertise, broad enterprise leadership and international experience in both Nicotine and the wider FMCG sector,” said Luc Jobin, Chair of the Board.
Chief Executive Tadeu Marroco added that Constantinescu’s global experience and familiarity with the company would support BAT’s strategy as it pursues quality growth and executes its medium-term growth plans.
Under the terms of his appointment, Constantinescu will receive a base salary of £820,000 annually. Additional components of his remuneration will follow the framework set out in the Directors’ Remuneration Policy approved by shareholders at the April 2025 AGM. He will also receive replacement awards to compensate for forfeited short- and long-term incentives, subject to the company’s malus and clawback provisions.
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