Imperial Brands has reportedly found a new chairman, following an eight-month search but is facing delays because of legal issues. The tobacco company has struggled to find a replacement for current chairman Mark Williamson, as senior executives become more wary about joining tobacco companies. In the latest sign that Philip Morris may be in trouble, it emerged on Tuesday that its chief executive, Martin Broughton, had been questioned by police over allegations he made illegal payments and gifts to politicians. Imperial Brands is also seeking a new CEO after its board pushed out Alison Cooper following investor dissatisfaction.
Imperial Brands has reportedly found a new chairman, following an eight-month search but is facing delays because of legal issues. The tobacco company has struggled to find a replacement for current chairman Mark Williamson, as senior executives become more wary about joining tobacco companies. The situation was exacerbated by the fact British American Tobacco is also seeking a new chairman to replace Richard Burrows in compliance with corporate governance rules that state chairmen should serve no more than nine years. Imperial Brands is also seeking a new CEO after its board pushed out Alison Cooper following investor dissatisfaction.