Non-execs bolster Gallaher board
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.American Brands has moved to bolster the board of its soon to be demerged UK tobacco company, Gallaher, with the appointment of five non-executives drawn mainly from the ranks of British industry.
Most prominent among them is Graham Hearne, chairman of Enterprise Oil. The others are Richard Brooke, finance director of BSkyB, John Gildersleeve, commercial and trading director of Tesco, Tom Hays, chairman of American Brands, and Tony Portno, chairman of Bass Leisure and Brewing.
Gallaher, whose principal brands include Benson and Hedges, Silk Cut and Old Holborn, is to be demerged from its American parent later this year after satisfactory rulings from the US tax authorities and stockholder approvals.
The demerger will involve a simple share split. However, American Brands wants Gallaher to be listed on the London Stock Exchange as well as in New York. Over time Gallaher is expected to become more of a British institutional stock than an American one.
Peter Wilson, Gallaher's chairman, said the new non-executives would complement the existing executive directors.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments