RJ Reynolds Tob (NYSE:RJR)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more RJ Reynolds Tob Charts. Click Here for more RJ Reynolds Tob Charts.](/p.php?pid=staticchart&s=NY%5ERJR&p=8&t=15)
R.J. Reynolds Tobacco Holdings Announces Post-Merger Executive Management Team
for Reynolds American Inc. and its Subsidiaries
WINSTON-SALEM, N.C., Nov. 10 /PRNewswire-FirstCall/ -- R.J. Reynolds Tobacco
Holdings, Inc. today announced the proposed executive management team for
Reynolds American Inc. and its operating subsidiaries, to be effective after
closing the transaction to combine its R.J. Reynolds Tobacco Company (RJRT)
subsidiary and the U.S. operations of Brown & Williamson Tobacco Corp. (B&W), a
subsidiary of British American Tobacco p.l.c. .
On Oct. 27, RJR and BAT announced a definitive agreement to combine the
operations and establish a new publicly traded holding company, Reynolds
American Inc. The transaction is expected to close in mid-year 2004, pending
approvals from U.S. regulatory authorities and RJR stockholders. The proposed
executive appointments are subject to approval by the Reynolds American board of
directors subsequent to closing.
Andrew J. Schindler, currently chairman and CEO of RJR, will serve as executive
chairman of Reynolds American for six months after the transaction closes, and
then will become non-executive chairman. Susan Ivey, currently president and
CEO of B&W, will serve as president and CEO of Reynolds American Inc. and
chairman and CEO of RJRT.
Reporting to Ivey at Reynolds American will be:
* Charles A. Blixt, executive vice president and general counsel;
* Dianne M. Neal, executive vice president and chief financial officer;
* Jeffrey A. Eckmann, executive vice president - strategy, planning and
integration;
* Ann A. Johnston, executive vice president - human resources; and
* Tommy J. Payne, executive vice president - external relations.
Blixt, Neal, Eckmann, Johnston and Payne will also hold comparable positions at
R.J. Reynolds Tobacco Co.
Eckmann, currently senior vice president and chief financial officer of B&W,
will lead the integration team that merges the RJRT and B&W operations after the
transaction is closed. The full integration of B&W with RJRT is expected to
take 18 to 24 months after closing.
Also reporting to Ivey will be:
* Lynn J. Beasley, president and chief operating officer of Reynolds
Tobacco; and
* Richard M. Sanders, president and CEO of Santa Fe Natural Tobacco
Company, Inc.
Reporting to Eckmann at Reynolds American will be:
* Olli E. Grasbeck, chairman and CEO of Lane Limited; and
* John A. Scarritt, vice president of international business.
Reporting to Beasley at Reynolds Tobacco will be:
* Frances V. Creighton, executive vice president - marketing, who is
currently senior vice president - marketing at RJRT;
* Daniel D. Snyder, executive vice president - operations, who is
currently senior vice president - operations at B&W;
* James V. Maguire, executive vice president - sales; and
* David E. Townsend, executive vice president - research and development.
Assisting in the transition to combine RJRT and B&W will be:
* L. Joe Inman, currently executive vice president - operations of RJRT;
* Daniel M. Delen, currently senior vice president - marketing of B&W; and
* Mark S. Kovatch, currently vice president - trade marketing of B&W.
"This management team will provide tremendous experience and leadership to
Reynolds American and its operating companies," said Ivey. "There is enormous
talent and proven ability in each area, and I look forward to working with this
exceptional group."
Schindler added, "I have total confidence in Susan and this management group's
ability to successfully lead Reynolds American to become a more effective and
efficient competitor in the U.S. market and provide ongoing value to
stockholders."
Additional Information and Where To Find It
Reynolds American Inc., the holding company to be formed in the proposed
business combination, intends to file a registration statement on Form S-4 that
will include a proxy statement/prospectus and other relevant documents in
connection with the proposed business combination. INVESTORS AND SECURITY
HOLDERS OF R.J. REYNOLDS TOBACCO HOLDING INC. ("RJR") ARE ADVISED TO READ THESE
DOCUMENTS WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION. Investors and security
holders may obtain a free copy of the prospectus/proxy statement (when it
becomes available) and other documents filed by RJR and Reynolds American Inc.
with the SEC at the SEC's web site at http://www.sec.gov/. Free copies of the
prospectus/proxy statement, when it becomes available, as well as RJR's and
Reynolds American Inc.'s related filings with the SEC, may also be obtained from
RJR by directing a request to R.J. Reynolds Tobacco Holdings, Inc. at P.O. Box
2866, Winston-Salem, NC 27102-2866, Attn.: Office of Investor Relations, or by
telephone at (336) 741-5165 or on RJR's website, http://www.rjrholdings.com/.
Forward-Looking Information
Statements included in this news release that are not historical in nature are
forward-looking statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. RJR can give no assurance
that the formation of Reynolds American Inc., the combination of RJR Tobacco and
the U.S. assets, liabilities and operations of Brown & Williamson Corporation,
and the related transactions, will be consummated, or if consummated, that any
expectations relating thereto will be realized. Factors that could affect
whether the transaction is completed include the satisfaction of regulatory
conditions to the business combination that cannot be waived and the
satisfaction or waiver of all other conditions, including obtaining clearances
from U.S. and European regulatory authorities and RJR stockholders, as well as
the receipt of satisfactory IRS rulings. Due to these uncertainties and risks,
you are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this news release. Except as
provided by federal securities laws, RJR is not required to publicly update or
revise any forward-looking statement, whether as a result of new information,
future events or otherwise.
Interests of Participants
RJR, its directors and executive officers and certain other members of
management and employees may be deemed to be participants in the solicitation of
proxies from RJR stockholders in favor of the proposed business combination. A
description of the interests of the directors and executive officers of RJR is
set forth in RJR's proxy statement for its 2003 annual meeting, which was filed
with the SEC on March 19, 2003. Investors and security holders may obtain
additional information regarding the interests of such potential participants in
the proposed business combination by reading the prospectus/proxy statement and
the other relevant documents filed with the SEC when they become available.
In addition, since the referenced proxy statement, Robert S. (Steve) Miller Jr.
was elected to the board of directors of RJR. As of Oct. 27, 2003, Mr. Miller
was the beneficial owner of 1,000 shares of RJR's common stock, which does not
include 10,000 shares issuable upon the exercise of stock options held by him
that are exercisable on or after Jan. 1, 2004. If the proposed business
combination is consummated, Mr. Miller's options will be immediately
exercisable. Additional information regarding Mr. Miller and any interests he
may have in the proposed business combination will be set forth in the
prospectus/proxy statement and other relevant documents filed with the SEC when
filed with the SEC.
R.J. Reynolds Tobacco Holdings, Inc. is the parent company of R.J. Reynolds
Tobacco Company and Santa Fe Natural Tobacco Company, Inc. R.J. Reynolds
Tobacco Company is the second-largest tobacco company in the United States,
manufacturing about one of every four cigarettes sold in the United States.
Reynolds Tobacco's product line includes four of the nation's 10 best-selling
cigarette brands: Camel, Winston, Salem and Doral. Santa Fe Natural Tobacco
Company, Inc. manufactures Natural American Spirit cigarettes and other tobacco
products, and markets them both nationally and internationally. Copies of RJR's
news releases, annual reports, SEC filings and other financial materials are
available on the company's website, http://www.rjrholdings.com/.
DATASOURCE: R.J. Reynolds Tobacco Holdings, Inc.
CONTACT: Investors, Carole Biermann-When, +1-336-741-5182, or Media, Jan
Smith, +1-336-741-6995, both of R.J. Reynolds Tobacco Holdings, Inc.
Web site: http://www.rjrholdings.com/