If the strategy launch from the new boss of Imperial Brands was intended to breathe immediate life into the company and its share price, then — so far, at least — it has failed (Alex Ralph writes). Since Stefan Bomhard unveiled his five-year plan to revive one of the world’s largest tobacco businesses, its stock has fallen by a further 10 per cent.
Imperial, the maker of Davidoff and L&B cigarettes, is a constituent of the FTSE 100, employing about 27,500 people and selling in around 120 markets. The capital markets day presentation, delivered about six months after the former car salesman had joined last July, was pitched against a backdrop of long-term structural problems for an industry under pressure to increase prices and offset
