Imperial Brands CEO Stefan Bomhard Steps Down

Wishing Mr. Stefan Bomhard new horizons, meaningful opportunities, and great success in their future endeavors!

A wave of surprise swept through the markets as Imperial Brands announced the sudden retirement of Chief Executive Officer Stefan Bomhard, a leader widely credited for reviving the company’s fortunes. His exit triggered a sharp dip in the company’s stock, which slid nearly 8 percent, casting uncertainty over the tobacco giant’s future trajectory.

Stefan Bomhard, who took the helm in 2020, is stepping down after a transformative five-year journey that saw Imperial regain lost ground in its core tobacco business and record a 90 percent gain in share value. He led the maker of Winston, Davidoff and Gauloises cigarettes through a critical pivot that re-emphasised traditional tobacco markets while carefully nurturing its smoking alternatives such as blu e-cigarettes, Zone nicotine pouches, and the Pulze heated device.

Describing his departure as “a very personal decision,” Bomhard said he wanted more time for his family after over a decade of leadership roles across major UK firms. He will stay on the board until the end of the year and remain available through mid-2026 to assist with the transition.

Finance head Lukas Paravicini, who will officially become CEO on October 1, has been entrusted with continuing the company’s renewed momentum. On a recent call with analysts, Paravicini reaffirmed his dedication to Imperial’s strategic blueprint laid out in March, including plans to push harder into the competitive world of next-generation nicotine products while maintaining strong shareholder returns.

Analysts expressed mixed feelings. “There is no doubting the disappointment in Stefan Bomhard announcing his retirement… after an exceptional five-year run,” noted a market expert. However, another financial commentator added that Paravicini’s familiarity with Imperial’s roadmap would likely reassure investors.

Imperial also named Murray McGowan, its Chief Strategy and Development Officer, as the incoming Chief Financial Officer. Meanwhile, the company posted a 1.8 percent increase in first-half operating profit at constant currency, narrowly missing the expected 2 percent, yet it reaffirmed its full-year outlook.

As the curtain falls on one chapter and rises on another, Imperial now stands at the edge of a new era, poised between tradition and transformation.

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