Stefan Bomhard to retire as Chief Executive Officer of Imperial Brands PLC and be succeeded by Lukas Paravicini
Imperial Brands today announces that Stefan Bomhard has informed the Board he wishes to retire as Chief Executive Officer (CEO). He will be succeeded as CEO by Lukas Paravicini, currently Chief Financial Officer (CFO) of Imperial Brands, on 1 October 2025. Stefan will continue to serve on the Imperial Brands Board until 31 December 2025 and be available until May 2026 to support Lukas with the transition. Murray McGowan, currently Imperial Brands’ Chief Strategy and Development Officer, will succeed Lukas as CFO and become a member of the Board on 1 October 2025.
Stefan will leave Imperial Brands after five years as CEO, during which time the business has strengthened its tobacco operations, built a refreshed platform for next-generation products, and delivered significant returns to shareholders.
Lukas, who has been CFO since May 2021, has been instrumental in driving Imperial Brands’ consistent growth over the past four years and leads the long-term programme to transform the company’s tech and data capabilities. Before joining Imperial, Lukas served as Chief Operating Officer and Chief Financial Officer for Fonterra, and had a 22-year career in Nestlé, where he worked across diverse consumer categories and regions.
Murray, who joined Imperial Brands in July 2020, led the development of both the company’s current successful strategy and the refreshed 2030 plan unveiled in March. Previously, he worked in financial and operational leadership roles for consumer businesses, including Costa Coffee, Yum! Brands and Cadbury, having begun his career in the consumer and retail practice of McKinsey & Company.
Thérèse Esperdy, Chair of Imperial Brands, said: “Under Stefan’s leadership, Imperial Brands has delivered consistent growth and outstanding returns for shareholders. One of Stefan’s many great achievements was the way he comprehensively refreshed our executive leadership, making strong hires from other consumer businesses and nurturing internal talent. The management team’s focus on consumer capabilities, agile ways of working and a performance culture has led both to a successful turn-around in our tobacco business and a strengthened platform in next generation products.
“Today’s appointments follow a rigorous selection process and demonstrate our deep management bench strength. Lukas and Murray have both played key roles in Imperial Brands’ growing success over the past four years and were important architects of our recently unveiled 2030 strategy. Under their executive leadership, I am confident we will continue to deliver for shareholders while moving purposefully towards a healthier future.”
Stefan Bomhard said: “With the team now preparing to implement our 2030 strategy, it feels like an appropriate time to hand on the baton to Lukas and Murray. In the coming months, I look forward to supporting them as they transition into their new roles. I would like to thank all the people of Imperial Brands. The strengthening of our business has been very much a team effort.”
Lukas Paravicini said: “I am excited to be working with our excellent team to build on our growing track record of growth. As we deliver on the next stage of our strategy, Imperial Brands will continue to play its distinctive role as the strong challenger business in our industry. By getting even closer to our consumers, staying focused and investing to be more agile, we will deliver sustainable growth in tobacco and profitable scale in next generation products.”
Murray McGowan said: “We have made strong progress under the current strategy, and I am looking forward to collaborating with our colleagues to continue delivering for all our stakeholders.”
The Board has agreed that Thérèse Esperdy, who joined as a Non-Executive Director in 2016 and was appointed Chair in 2020, will continue to serve as Chair to provide continuity while Lukas and Murray establish themselves in their new roles.
