Dunhill Cigarettes Maker British American Tobacco's CFO Departs Abruptly: Retail Mood Still Bullish

The development comes at a time of strength for BAT, which, like its peers, is investing in growing its vapes and smokeless products portfolio.

British American Tobacco, the maker of Lucky Strike and Dunhill cigarettes, said on Tuesday that its chief financial officer, Soraya Benchikh, is leaving with immediate effect.

Javed Iqbal, a senior finance executive at the British firm, will serve as the interim CFO as it looks for a replacement. British American Tobacco has its American Depositary Receipts (ADRs) listed under the ticker symbol "BTI." 

On Stocktwits, the retail sentiment for those shares was 'bullish' as of early Tuesday.

Benchikh, who spent two decades at British American Tobacco, before moving out and then returning as CFO in May last year. In July, the company reported first-half profit ahead of expectations and growth in its U.S. business for the first time in three years.

Even as smoking rates decline moderately, businesses of large tobacco companies have remained resilient in part due to investing in and pushing smoke-free products.

British American Tobacco has set a target to serve 50 million consumers of smokeless products by 2030 and to have these products account for at least 50% of its revenue by 2035.

In the U.S., the company's largest market, smokeless "new category" products contributed to revenue growth in H1 2025, with over 18% of revenue now generated from smokeless offerings. The company has even front-loaded some stock to mitigate the impact of the U.S. tariffs.

British American Tobacco shares have more than doubled since early 2024 and hit another record high last Thursday.

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