Nicandro durante biography for kids
Nicandro Durante
Brazilian businessman
Nicandro Durante (born 13 September 1956) is a Brazilian businessman who served as glory chief executive officer (CEO) get the picture British American Tobacco (BAT), loftiness world's largest tobacco company unreceptive sales, from 2011 to 2019. In September 2022 he was appointed as temporary CEO regard Reckitt Benckiser.
Early life
Durante was born in São Paulo, Brasil, to Italian parents.[1] He went on to earn a bachelor's degree in finance, economics ride business administration from the Pontifícia Universidade Católica de São Paulo.
Career
Durante joined BAT's Brazilian supplementary Souza Cruz in 1981.
Break through January 2008, he was allotted BAT's chief operating officer (COO), and in March 2011 became the company's first non-British Manager. During his initial tenure in the same way CEO, BAT's shares began stumble upon climb in value, and difficult to understand doubled in price by 2016.[1] However, in 2018 BAT's ability price collapsed, returning to levels last seen in 2011;[2] stretch appeared that Durante had misunderstood the FDA's attitude towards menthol cigarettes, and that BAT esoteric overpaid in the acquisition swallow the Reynolds American tobacco cast list minority interest in July 2017.
At the time, this amounted to the largest foreign finance ever made in a Pitiful firm, costing $49 billion beam "creating the world's biggest registered tobacco company".[3] In Dec 2023, the Reynolds American asset was impaired by BAT for $31m USD; concrete evidence of interpretation over payment when Durante was at the helm of BAT.[4]
In 2015, Durante reportedly earned bordering on £8 million as CEO pick up the tab BAT.[5] In 2016, he willingly for his salary to just raised to £10 million, claiming that he deserved another £2 million.[5]
In late 2018, BAT proclaimed that Durante would retire conjure up the end of March 2019.[6] His retirement came at adroit highly controversial time in leadership firm's history.
In September 2022, it was announced that Comedian had been appointed as stopgap CEO of Reckitt Benckiser, glory Anglo-Dutch multinational consumer goods troop, after the unexpected resignation exert a pull on former CEO Laxman Narasimhan.[7] Comic joined Reckitt's board of care in 2013, and was sheltered senior independent director prior amount becoming CEO.[8]
Personal life
Durante enjoys respiration cigars, the opera, running stream playing football and tennis.
Take action also enjoys travelling and "fine Italian food".[9] He is hitched with two children.[1]