According to an announcement released by British American Tobacco (BAT) and its CEO, Tadeu Marroco, on September 1, 2026, Dragos Constantinescu officially assumed the position of Chief Financial Officer (CFO) and Executive Director of BAT. Constantinescu previously worked at BAT for 16 years, holding various management positions in finance and the European market. He joined the Asahi Group in 2019 and was promoted to CEO of Asahi Europe & International in 2025. This appointment comes as BAT continues to advance its “A Better Tomorrow” transformation strategy.
Key Summary
- Dragos Constantinescu officially assumed the position of Chief Financial Officer and Executive Director of BAT on September 1, 2026.
- He previously worked at BAT for 16 years, with experience in finance, strategy, and multi-market management across Europe.
- Constantinescu joined the Asahi Group in 2019 and became CEO of Asahi Europe & International in 2025.
- Interim CFO Javed Iqbal will continue serving as Director of Digital & Information.
BAT Confirms Dragos Constantinescu as New CFO
September 1, 2026. According to LinkedIn posts published by British American Tobacco (BAT) and CEO Tadeu Marroco, Dragos Constantinescu officially assumed the role of Chief Financial Officer and Executive Director. The appointment finalizes the management transition announced by BAT earlier this year and marks Constantinescu’s return to the company after nearly seven years away.
BAT said Constantinescu brings international experience across the tobacco and broader fast-moving consumer goods (FMCG) sectors. His background in finance, strategy, and business leadership is expected to support the company’s long-term transformation plans.
In a message published on the same day, Marroco noted that Constantinescu’s understanding of BAT’s operations and his previous leadership experience would contribute to the company’s continued progress under its “A Better Tomorrow” strategy.
A 16-Year Career at BAT Across Finance and European Markets
Constantinescu first joined BAT in 2002 and spent approximately 16 years with the company, holding a series of senior finance and management positions.
His previous roles included:
- European Commercial Finance Manager
- Head of Financial Control for Western Europe
- Head of Corporate Finance for Western Europe
- CFO of BAT Poland
- General Manager for Sweden and Norway
- General Manager for Poland
- Regional Head for Central and Northern Europe
His market responsibilities covered Poland, the Czech Republic, Slovakia, Hungary, Sweden, Norway, and the Baltic region, providing extensive experience in multi-country business management.
When BAT announced his appointment in April 2026, the company highlighted his expertise in finance, international operations, strategy, and leadership within both the nicotine and wider FMCG industries.
Leadership Experience at Asahi Group
After leaving BAT in 2019, Constantinescu joined the Asahi Group, where he oversaw operations in Romania, Hungary, the Czech Republic, Slovakia, Germany, and Austria.
He also served as Managing Director of Plzeňský Prazdroj, one of Central Europe’s major brewing companies. In April 2025, he was promoted to CEO of Asahi Europe & International.
Following the announcement of his return to BAT, Constantinescu said he was attracted by the company’s clear transformation strategy and looked forward to supporting BAT’s strategic priorities while maintaining financial discipline and shareholder returns.
BAT Completes CFO Transition Process
Before Constantinescu officially took office, Javed Iqbal served as interim CFO.
Marroco thanked Iqbal for maintaining management continuity during the transition period and supporting key business initiatives.
According to BAT’s previous arrangements, Iqbal will remain with the company as Director of Digital & Information. Constantinescu has also joined BAT’s Board of Directors and Management Committee, where he will oversee the company’s financial operations and participate in strategic and capital allocation decisions.
CFO Appointment Aligns With BAT’s Transformation Strategy
Constantinescu’s return comes as BAT continues to expand its smoke-free business under the “A Better Tomorrow” strategy.
BAT’s reduced-risk product portfolio currently includes:
- Vuse e-cigarettes
- glo heated tobacco products
- Velo modern oral nicotine products
When announcing the appointment earlier this year, Marroco said Constantinescu’s international experience and familiarity with BAT would help support high-quality growth, medium-term targets, and long-term shareholder value.
BAT Chairman Luc Jobin added that Constantinescu’s expertise in finance, corporate leadership, international business, transformation, and strategy would strengthen both the board and management team.
Significance of Constantinescu’s Return to BAT
Constantinescu’s appointment represents more than a routine executive change. It brings back a senior leader with deep knowledge of BAT’s internal operations, extensive international management experience, and a proven track record in large FMCG businesses.
As BAT accelerates its transformation efforts, the company is relying on experienced leadership to balance financial performance, strategic investment, and the continued development of its smoke-free business portfolio.
