MD of BAT retires

“Unfortunately, as a corporate entity we cannot go at it alone to resolve the illegal cigarettes trade issue. The government must be held accountable and radical actions such as demand driven solutions that include a review of excise duties must be explored," Stole(file pic) said.

PETALING JAYA: The managing director of Malaysia’s largest tobacco company has retired just as the firm reported its worst net profit since its merger two decades ago.

British American Tobacco (M) Bhd (BAT), which witnessed declining profitability for the fourth consecutive year, announced yesterday that its managing director Erik Stoel has opted for early retirement.