BAT Kenya appoints new managing director

British American Tobacco (BAT) Kenya has appointed a new managing director to replace Gary Fagan who has taken up another role within the BAT Group outside the country. PHOTO / FILE 

By David Mugwe, The EastAfrican

Posted  Mon

British American Tobacco (BAT) Kenya has appointed a new managing director to replace Gary Fagan who has taken up another role within the BAT Group outside the country.

The Company, on Monday said that it appointed Chris Burrell who was BAT’s area director for North Africa based in Egypt to take over from Mr Fagan from June 1 this year.

Read: BAT Kenya chief quits as executive changes increase

Mr Fagan who became managing director in September 2008, saw the company’s revenues and profits grow by 74.9 per cent and 92.4 per cent respectively over the four year period to the end of last year.

“Chris Burrell was appointed managing director of the company with effect from June 1, 2013…Mr Burrell takes over from Mr Gary Fagan who resigned as managing director on May 31, 2013 to take up another role within the BAT Group outside Kenya,” said Ruth Ngobi, BAT Kenya’s company secretary in a statement.

Mr Burrell was BAT’s area director for Equatorial Africa based in Nairobi between 2004 and 2006 before moving to Switzerland as general manager then to Egypt.

BAT Kenya posted Ksh3.27 billion ($38.02 million) profit after tax for the year ended December 2012 compared to Ksh3.09 billion ($35.92 million) posted at the end of December 2011 and Ksh1.7 billion ($21.88 million) as at the end of December 2008.

Last year, its revenues grew by marginally by 5.85 per cent to Ksh30.50 billion ($354 million) from Ksh28.81 billion ($338 million) the previous year compared to Ksh17.43 billion ($224) for the period ended December 2008.

BAT Kenya paid 93 per cent of its profits to shareholders at the end last year amounting to a dividend of Ksh32.50 ($0.38) per share, compared to a Ksh30.50 ($0.36) dividend per share the previous year or 58 per cent of its profits and Ksh17 ($0.22) per share in 2008 which was 100 per cent of its profits.

The cigarette maker’s share, which is the most expensive at the Nairobi Securities Exchange, closed at Ksh548 ($6.44) last Friday and had risen by 11.16 per cent when compared to its closing price of Ksh493 ($5.73) on the last trading day of last year.