Dow Jones Newswires: Imperial Brands CEO stepping down

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Imperial Brands PLC said Thursday that Chief Executive Officer Alison Cooper and the board have agreed that she will step down when a suitable replacement is found.

The tobacco company IMB, -1.61%, which houses Davidoff, Gauloises and JPS among its brands, said that while the search for her successor is underway, Cooper will focus on driving the performance of the business, including an asset-divestment program. The company added that the program is expected to realize proceeds of up to 2 billion pounds ($2.5 billion) by May 2020.