By Timothy S. Donahue
Top Takeaways:
- Leadership return: BAT brings back former executive Dragos Constantinescu as CFO amid a transformation push
- Continuity move: Interim CFO Javed Iqbal returns to a digital role after transition
- Strategic timing: Appointment tied to BAT’s shift toward smokeless growth and a “quality earnings” focus
A familiar face is stepping into one of tobacco’s most critical roles. British American Tobacco has appointed Dragos Constantinescu chief financial officer and executive director, effective Sept. 1, bringing back a former executive as the company continues its transition to smokeless products.
Constantinescu currently serves as CEO of Asahi Europe & International and previously spent 16 years at BAT in senior finance and general management roles across Europe, including leadership roles in Central Europe and Poland. He succeeds interim CFO Javed Iqbal, who will return to his role as director of digital and information after the transition.
BAT leadership described the move as both strategic and stabilizing. “I am pleased to welcome Dragos to BAT as chief financial officer and executive director,” said Chairman Luc Jobin. “He brings a strong combination of financial expertise, broad enterprise leadership and international experience in both nicotine and the wider FMCG sector.”
CEO Tadeu Marroco emphasized the timing, directly linking the appointment to the company’s broader transformation. “Dragos joins the management board at an important stage in BAT’s transformation,” Marroco said. “His international experience alongside a strong understanding of BAT will be key assets as we continue to focus on quality growth and the delivery of our mid-term growth algorithm.”
Constantinescu also highlighted continuity in strategy. “I am excited to be rejoining BAT as chief financial officer,” he said. “BAT has a clear transformation strategy and is building positive momentum… I look forward to helping shape and support BAT’s strategic priorities.”
The appointment comes as BAT continues to pivot away from traditional combustible products toward reduced-risk categories, including vaping, heated tobacco, and nicotine pouches, which are driving growth across key markets.
