British American Tobacco PLC (BATS.LN), an international tobacco group that houses the Pall Mall, Kent cigarette and Dunhill brands, said Monday it is proposing to reduce the number of regions in its management structure from five to four with effect from Jan. 1, 2011.
MAIN FACTS:
-A new region will be formed, Eastern Europe, Middle East & Africa, or EEMEA.
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BRITISH American Tobacco has lost an appeal in the full Federal Court in a dispute over an $89 million capital gains tax bill. Three appeal judges unanimously upheld Justice Arthur Emmett’s 2009 ruling that the tobacco company had engaged in a scheme whose ”dominant purpose” was to avoid tax rather than to pursue a genuine commercial strategy. Ream more »
-British American Tobacco PLC (BATS.LN) Wednesday posted an accelerating decline in cigarette volumes for the first quarter as lower consumer spending in the global economic downturn hit sales of its cigarette brands. Read more