By John Kell
Reynolds American Inc.'s former chief executive Susan Cameron
will return to that role May 1, succeeding Daniel Delen, who held
the position for about four years.
Ms. Cameron previously served as president and CEO of the
tobacco company from 2004 to 2011, retiring after
more-than-six-year run in which she steadied the company's
cigarette operations and made a successful foray into smokeless
tobacco.
Analysts were caught off guard when Ms. Cameron, then known as
Susan Ivey, retired in 2011, because at the age of 51, she was a
young CEO. But they praised her for leaving Reynolds American in
good financial shape in an industry that has faced years of
declining cigarette sales.
Ms. Cameron, the first woman to run a major tobacco company,
returned to Reynolds American's board late last year.
"We're pleased to have her back with the company to further our
vision of transforming tobacco," said Nonexecutive Chairman Thomas
Wajnert.
Mr. Delen, also fairly young for a CEO (48, as of Reynolds
American's latest regulatory filing), has elected to retire and
resign from the tobacco firm's board. He will consult at Reynolds
American for two years for a transition period.
Mr. Delen had previously led the company's largest cigarette
unit before taking on the CEO and president roles in March
2011.
Reynolds American and its peers have suffered from an
industrywide decline in cigarette volumes and a weak economy, which
have pressured Reynolds' sales in recent quarters. The company has
shifted its focus toward a few key cigarette brands, while also
expanding into smokeless tobacco and angling to compete in the
e-cigarette category with a brand called Vuse.
Reynolds American isn't alone in bringing back a former CEO to
lead its company. Procter & Gamble Co. and J.C. Penney Co. both
notably brought back past CEOs last year after successors failed to
lead turnarounds at those companies.
Write to John Kell at john.kell@wsj.com
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