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Imperial Brands CEO steps down as company deals with e-cig issues

He stepped down after an earnings warning “in light of a challenging next-generation product market in the USA."

GREENSBORO, N.C. — Imperial Brands CEO Alison Cooper announced Thursday she will step down from the role of CEO and from the board just a week after the company issued a financial earnings report for 2019.

Cooper, 53, and the board announced she will stay in her position until a successor is found.

Imperial, the maker of Blu e-cigarettes and the parent company of Greensboro-based ITG Brands, announced the earnings warning on Sept. 26 “in light of a challenging next-generation product market in the USA and changes to our results expectations in the Africa, Asia and Australasia division.”

The company's stock hit a 52-week low the next day as the company deals with a backlash against e-cigarettes and more regulation.

Imperial Board Chairman Mark Williamson praised the work of Cooper, who has been with Imperial for 20 years, including nine as the CEO. “Alison has worked tirelessly and with great energy and passion during her 20 years with Imperial, and the board would like to thank her for the tremendous contribution she has made," Williamson said.

Click here to read more about the leadership change-up on the Triad Business Journal's website. 

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