Erik Stoel, marketing director of British American Tobacco Korea, has been appointed its new chief executive, the company announced Tuesday.
Stoel will take office on Jan. 1, replacing the incumbent CEO Guy Meldrum who has been transferred as head of BAT Australasia.
“Over the past three years, in his role as marketing director of BAT Korea, Mr. Stoel has made a substantial contribution to the company by strengthening the company’s flagship brand Dunhill to establish BAT Korea’s stronger foothold in the local tobacco market,” BAT Korea said in a press release.
The Dutch-born new CEO is also touted for successfully introducing a new sales and distribution structure at the company, the first for a multinational fast-moving consumer goods company in Korea.
Since 1995, Stoel has worked at BAT, holding a variety of senior roles covering numerous markets in Eastern Europe, the Middle East and Asia. He was marketing director at BAT Malaysia before joining the Korean unit in 2012.