Before official formation of American subsidiary of Imperial Tobacco Group Plc, it changed its top executive. Last week, the representatives of the tobacco company told that there was named David Taylor, chief financial officer of Lorillard Inc., as chief executive of ITG Brands LLC on the final Imperial’s acquisition of the volume of Lorillard’s assets.
The company also told that Martin Orlowsky, who worked as executive chairman of ITG Brands, has voluntary retired and explained that the main reason is different views on the company’s management style.
It was Imperial’s board who took the decision to hire David Taylor, who was Lorillard’s chief financial officer since 2008.
On July, Reynolds American Inc. declared about its intention to buy for $27.4 billion most popular Lorillard’s brand Newport. The rest of Lorrilard was bought by Imperial tobacco company for $7.1 billion.
Lorillard and Reynolds were waiting for several months the approval of the Federal Trade Commission for Reynolds offer for Lorillard.
Сhief executive of Imperial tobacco company, Alison Cooper, told last summer that Orlowsky is perfect candidate for the company, because he worked for Lorillard for 20 years, before retiring in December 2010. Thus his major duty was leading the integration planning of Commonwealth-Altadis Inc. with Lorillard. To note that Commonwealth-Altadis is tobacco subsidiary of Imperial in the USA.
Alison Cooper is happy that David Taylor will work now for the Imperial, as he has necessary skills and experience to lead ITG Brands and make them successful.
Imperial plans to buy Lorillard’s headquarters and production operations in Greensboro, its plant in Danville, with the total 2,900 workers. Lorillard along with Reynolds are going to sell Salem, Kool, Winston, Maverick cigarette brands.
It is expected that the change would improve Imperial’s position on tobacco maket.