IMB CEO Stefan Bomhard Announces Retirement

Key Points:

1.Senior Management Change: IBM announced that CEO Stefan Bomhard will retire on October 1, 2025, and will be succeeded by current CFO Lukas Paravicini.

2.Management shakeup: Murray McGowan will replace Lucas as CFO and join the board of directors on October 1, 2025.

3.Strategic background: During his tenure, Stephen has strengthened the company's tobacco business, built the next generation product platform, and created significant returns for shareholders.

On May 14th, Imperial Brands (IMB) announced that the company's Chief Executive Officer (CEO), Stefan Bomhard, plans to retire on October 1st, 2025. The current Chief Financial Officer (CFO), Lukas Paravicini, will succeed Bomhard as CEO. Bomhard will remain a member of the board until December 31st, 2025, and will assist Paravicini with the transition until May 2026.

In addition, Murray McGowan, Chief Strategy and Development Officer at IMB, will take over as CFO on October 1, 2025, replacing Lucas and becoming a member of the board of directors.

Stefan Bomhard said that：

"As the team prepares to implement the 2030 strategy, now is the appropriate time to pass the baton to Lukas and Murray. Over the coming months, I look forward to supporting them in smoothly transitioning into their new roles. I want to thank all the employees of Imperial Brands; the strengthening of the company’s business is not possible without the efforts of the team."

Lukas Paravicini stated that:

"I look forward to working with our talented team to continue building on our strong growth record. In the next phase of implementing our strategy, Imperial Brands will continue to play a unique role as a strong challenger in the industry. By getting closer to consumers, staying focused, and investing in agility, we will achieve sustainable growth in our tobacco business and drive profitable expansion in next-generation products."

According to reports, Stefan joined IMB in July 2020 as the chief executive officer.