BAT recognised as a Financial Times Diversity Leader for second consecutive year
Diversity and inclusion a key driver of BAT's transformation journey as it builds A Better Tomorrow
BAT continues to move up the FT Diversity Leader rankings
BAT sets ambitious global diversity and inclusion ambitions for 2025
LONDON, Nov. 19, 2020 /PRNewswire/ -- The BAT Group (BAT) has today been named as a Diversity Leader by the Financial Times for a second consecutive year.
The prestigious FT Diversity Leaders report recognises the top 850 companies across 16 European countries that have achieved a diverse and inclusive workplace. It assesses key areas including: Gender balance; sexual orientation; and a workforce comprised of an ethnic and social mix that reflects wider society.
Diversity and inclusion have been a key part of BAT's heritage which goes back 120 years. Today, BAT is proud to have 141 nationalities in management positions in its operations across 189 countries, and 87 nationalities in its London head office alone. This year, BAT set itself new diversity and inclusion ambitions to achieve by 2025 including:
- Increasing the number of women in senior leadership teams to 40%
- Increasing the number of women in management roles to 45%
- Achieving a 50% spread of nationalities within key leadership teams to better mirror BAT's consumer base.
Attracting and retaining an increasingly diverse workforce, and providing a welcoming, inclusive working environment is a key driver in BAT's transformation journey. BAT is committed to its purpose to build A Better Tomorrow by reducing the health impact of its business through providing a range of enjoyable and less risky products. The company continues to be clear that combustible cigarettes pose serious health risks, and the only way to avoid these risks is not to start or to quit. BAT encourages those who would otherwise continue to smoke, to switch completely to scientifically-substantiated, reduced-risk alternatives.
Hae In Kim, Director of Talent, Culture and Inclusion, at BAT, said:
"We are delighted to be named as a Diversity Leader by the Financial Times for the second year running. This recognition acknowledges our ongoing commitment to fostering a diverse and inclusive culture at BAT underpinned by our ethos which encourages our employees to be Bold, Fast, Empowered, Responsible and Diverse. We are proud of what we have achieved so far, and recognise, like many other businesses, we can and must still do more.
"We are accelerating our focus on Diversity and Inclusion to create a dynamic and inspiring workplace that will propel BAT into the future and create A Better Tomorrow for all the communities in which we operate."
BAT is a leading, multi-category consumer goods business, established in 1902. Our purpose is to build A Better Tomorrow by reducing the health impact of our business through offering a greater choice of enjoyable and less risky products for our consumers. The company has announced a target of increasing the number of its non-combustible product consumers from 11 million to 50 million by 2030; and to achieve at least £5 billion in New Categories revenues in by 2025. BAT has also committed to encouraging those who otherwise continue to smoke, to switch completely to scientifically-substantiated, reduced-risk alternatives.
- BAT has a wide number of diversity initiatives aimed at attracting and retaining diverse talent to its business, including:
- B United, which provides mentoring and a support system for LGBTQ+ employees
- Women in Leadership, which seeks to accelerate the performance and potential of female talent
- Women in STEM, which aims to encourage more women into science
- Parents@BAT, which supports those seeking to balance work and family
About FT Diversity Report
The FT Diversity Leaders report is compiled from extensive research that surveyed over 100,000 employees across Europe who rated their own, and other employers, on a range of diversity and inclusion metrics. https://www.ft.com/reports/diversity-leaders
Forward Looking Statements
This communication contains certain forward-looking statements, including "forward-looking" statements made within the meaning of Section 21E of the United States Securities Exchange Act of 1934. These statements are often, but not always, made through the use of words or phrases such as "believe," "anticipate," "could," "may," "would," "should," "intend," "plan," "potential," "predict," "will," "expect," "estimate," "project," "positioned," "strategy," "outlook", "target" and similar expressions. These include statements regarding our intentions, beliefs or current expectations concerning, amongst other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the economic and business circumstances occurring from time to time in the countries and markets in which the BAT Group operates.
All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual future financial condition, performance and results to differ materially from the plans, goals, expectations and results expressed in the forward-looking statements and other financial and/or statistical data within this communication. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are uncertainties related to the following: the impact of competition from illicit trade; the impact of adverse domestic or international legislation and regulation; changes in domestic or international tax laws and rates and the impact of an unfavourable ruling by a tax authority in a disputed area; adverse litigation and dispute outcomes and the effect of such outcomes on the BAT Group's financial condition; changes or differences in domestic or international economic or political conditions; the impact of the COVID-19 pandemic; adverse decisions by domestic or international regulatory bodies; the impact of market size reduction and consumer down-trading; translational and transactional foreign exchange rate exposure; the impact of serious injury, illness or death in the workplace; the ability to maintain credit ratings and to fund the business under the current capital structure; the inability to develop, commercialise and rollout New Categories; and changes in the market position, businesses, financial condition, results of operations or prospects of the BAT Group.
It is believed that the expectations reflected in this communication are reasonable, but they may be affected by a wide range of variables that could cause actual results to differ materially from those currently anticipated. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. The forward-looking statements reflect knowledge and information available at the date of preparation of this communication and the BAT Group undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on such forward-looking statements.
No statement in this communication is intended to be a profit forecast and no statement in this communication should be interpreted to mean that earnings per share of BAT for the current or future financial years would necessarily match or exceed the historical published earnings per share of BAT.
Additional information concerning these and other factors can be found in the Company's filings with the U.S. Securities and Exchange Commission ("SEC"), including the Annual Report on Form 20-F filed on 26 March 2020 and Current Reports on Form 6-K, which may be obtained free of charge at the SEC's website, http://www.sec.gov, and the Company's Annual Reports, which may be obtained free of charge from the British American Tobacco website www.bat.com.
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