By Maria Armental 
 

Tobacco giant Reynolds American Inc. (RAI) said Chief Financial Officer Thomas R. Adams plans to retire in March, and it named Executive Vice President Andrew D. Gilchrist as his replacement.

Mr. Adams, 64, joined the company in 1999 and had held the post since 2008. Mr. Gilchrist, 42, was previously president and chief commercial officer of R.J. Reynolds Tobacco Co.

Meanwhile, Ricardo Oberlander, regional director of British American Tobacco's Americas region and board chairman of British American Tobacco's Souza Cruz subsidiary in Brazil, was elected to the board effective immediately, the company said. Mr. Oberlander succeeds Neil R. Withington, who retired on Thursday.

Last month, the tobacco company, which has agreed to merge with competitor Lorillard Inc. (LO), reported higher profit and revenue for the latest reporting quarter, in part due to higher prices that offset falling demand.

The $25 billion merger deal, under review by the Federal Trade Commission and subject to shareholder approval, would create the second-largest cigarette maker in the U.S., with one-third of the market.

The company's shares closed on Thursday at $66.93, just below the 52-week high of $66.97 and up 32% for the year.

Write to Maria Armental at maria.armental@wsj.com

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