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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Reynolds American (delisted) | NYSE:RAI | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 65.40 | 0 | 01:00:00 |
From May 2019 to May 2024
By John Kell
Reynolds American Inc.'s former chief executive Susan Cameron will return to that role May 1, succeeding Daniel Delen, who held the position for about four years.
Ms. Cameron previously served as president and CEO of the tobacco company from 2004 to 2011, retiring after more-than-six-year run in which she steadied the company's cigarette operations and made a successful foray into smokeless tobacco.
Analysts were caught off guard when Ms. Cameron, then known as Susan Ivey, retired in 2011, because at the age of 51, she was a young CEO. But they praised her for leaving Reynolds American in good financial shape in an industry that has faced years of declining cigarette sales.
Ms. Cameron, the first woman to run a major tobacco company, returned to Reynolds American's board late last year.
"We're pleased to have her back with the company to further our vision of transforming tobacco," said Nonexecutive Chairman Thomas Wajnert.
Mr. Delen, also fairly young for a CEO (48, as of Reynolds American's latest regulatory filing), has elected to retire and resign from the tobacco firm's board. He will consult at Reynolds American for two years for a transition period.
Mr. Delen had previously led the company's largest cigarette unit before taking on the CEO and president roles in March 2011.
Reynolds American and its peers have suffered from an industrywide decline in cigarette volumes and a weak economy, which have pressured Reynolds' sales in recent quarters. The company has shifted its focus toward a few key cigarette brands, while also expanding into smokeless tobacco and angling to compete in the e-cigarette category with a brand called Vuse.
Reynolds American isn't alone in bringing back a former CEO to lead its company. Procter & Gamble Co. and J.C. Penney Co. both notably brought back past CEOs last year after successors failed to lead turnarounds at those companies.
Write to John Kell at john.kell@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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