GENEVA-- Japan Tobacco International (JTI) announced that Thomas McCoy will be retiring as its president and CEO, and that Eddy Pirard, its current executive vice president of business development, corporate affairs and corporate communications, will take the helm as of April 1, 2017.
“We would like to thank Mr. McCoy for his unfaltering dedication these last three years and his tremendous contribution in making [Geneva-based] JTI the growth engine of the JT Group," said Mitsuomi Koizumi, president and CEO of Tokyo-based Japan Tobacco (JT), the parent company of JTI. "Under the combined leadership of Mr. McCoy and Mr. Pirard, JTI was able to grow the tobacco business both organically and through acquisitions, as well as position itself as a major emerging products player.”
Pirard, 54, a Belgian national, was appointed to his current role in 2014 following his position as regional president for Western Europe.
McCoy, a U.S. citizen, was appointed president and CEO in December 2013 and COO in October 2005. Following a number of senior positions at Winston-Salem, N.C.-based R.J. Reynolds, he played a key role in JTI’s development in recent years.
“After 17 years at JTI and 15 years at R.J. Reynolds, the time has come for me to retire and to hand over the keys of this extraordinary company to Eddy, who will take it into the next era of commercial success," McCoy said. "Eddy’s broad experience in the tobacco business and merger-and-acquisition accomplishments demonstrate that he has the vision and ability to continue to drive the business forward.
"Following his role as regional president for Western Europe, where he achieved steady growth in a large and challenging region, Eddy has more recently led all our M&A activities across the world, including the acquisition of Natural American Spirit outside the United States and an equity stake in NTE in Ethiopia. He has also forged ahead our journey into the innovative emerging products business with acquisitions such as Logic and E-Lites.”
McCoy also thanked the JT senior management team, JTI executive-committee colleagues and other employees.
“I am very grateful for the trust that JT is giving me and for all of Tom’s encouragement,” Pirard said. “We have a shared vision and a passion for the company and I hope, together with my esteemed colleagues, to continue to build on our achievements and successes in the future.”
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