Imperial Brands has appointed a new finance chief, with the current CFO set to step down after seven years with the tobacco firm.
The company said this morning that Lukas Paravicini, currently chief financial officer of agricultural commodities group ED&F Man Holdings, will join the board from 5 August or earlier.
Paravicini – who will receive an annual salary of £730,000 – will replace Oliver Tant, who will leave the business following a handover period after seven years in the role.
Imperial Brands chief executive Stefan Bomhard said Paravicini’s finance credentials and operational experience will be “invaluable to Imperial as we implement our new strategy”.
Before joining ED&F, Paravicini held senior positions at Fonterra – the world’s largest dairy exporter – including chief financial officer.
Previously, he spent 22 years with consumer goods giant Nestle in various senior finance and general management roles.
Lukas said: “I am delighted to be joining Imperial at such an exciting time. I look forward to supporting the new strategic direction and working with the board and my new colleagues to strengthen performance and enhance shareholder value.”