In a surprise executive reshuffle, British American Tobacco (BAT) confirmed today that Soraya Benchikh is stepping down as Chief Financial Officer and relinquishing her Board seat, effective immediately. The move comes after only about 15 months in the role.

Benchikh, who rejoined the company in May 2024 after a career that began at BAT more than two decades ago, remains onboard until Dec. 31 to aid in the leadership handover. “Now is the right time for me to move on to my next transformation,” she stated, expressing pride in having “embedded financial discipline and helped position BAT’s New Categories business for sustainable profitability.”

Stepping into the interim CFO role is Javed Iqbal, currently Director of Digital and Information and formerly interim Finance Director between May 2023 and April 2024. The company has launched a recruitment process for a permanent successor.

CEO Tadeu Marroco praised Benchikh’s leadership, stating, “Soraya has made a significant contribution to BAT, having worked in various roles within the Group over many years.” He underscored BAT’s strong first-half performance—above expectations, with a rebound in the U.S. market—stating that the company is “firmly on track to deliver our full-year guidance,” and remains committed to its transformation strategy.

Indeed, BAT’s U.S. business, accounting for roughly 44% of group revenue, grew for the first time in three years. Growth in New Category products, such as nicotine pouches, also gained traction—highlighting the increasing importance of these categories in BAT’s strategic outlook.