Reynolds American Chief Executive Officer Susan Cameron will remain at RAI beyond her initial departure date to see through integration of the Newport brand acquired last year from Lorillard, the company said.
“The addition of Newport has given our business new energy in a competitive and dynamic environment,” Cameron said. The executive returned to RAI in 2014 as president and CEO, an appointment that was to end 30 April but which also contained an extension clause, the company said.
Addition of 8.1 billion sticks from Newport, the top selling menthol cigarette in the US, to key brands at RJ Reynolds Tobacco (RJRT) boosted drive brand volume 80 per cent to 17.4 billion sticks in the first quarter, RAI said. Volume at Santa Fe Natural Tobacco, from which Japan Tobacco recently acquired the non-US business, rose 22 per cent to 1.2 billion sticks.
Substantial increases in operating income and revenue due to the Lorillard acquisition were reported for the three months ended 31 March. “All of our operating companies demonstrated excellent performance, benefitting from increased volumes and higher pricing on both cigarettes and moist snuff,” Cameron said.