Henrik Brandt has been nominated to be the next chairman of Scandinavian Tobacco Group (STG), one of the world’s largest cigar companies.
Brandt, currently the vice-chairman of STG, is expected to replace Nigel Northridge, who has served as chairman since 2017. Northridge has decided to retire and will not run for another term. Brandt’s elevation to chairman is subject to a vote at the STG Annual General Meeting in March.
STG is the parent company of Cigars International, General Cigar Co., Thompson Cigar, Agio and others. The company says that has an annual production of 4 billion cigars—the majority of those are non-premium cigars—and employs roughly 11,000 people. It is publicly traded on the NASDAQ Copenhagen.
“Nigel has been the Chairman during a period of significant change and growth for Scandinavian Tobacco Group,” said Brandt in a statement. “During his tenure, the Company has developed from being newly listed to a stronger company with a clear strategy in place for the future. Nigel deserves a lot of credit for having led this development. I also wish to thank the Board of Directors for their confidence in me as they express their intention to elect me as the future Chairman.”
Brandt was the ceo of Royal Unibrew A/S from 2008-2017 and currently serves as chairman of the board of Toms Gruppen A/S, Frits Hansen A/S, Intervare A/S and Danish Bake Holdings ApS. He also sits on the boards of Ferd Holding as, Gerda & Victor B. Strands Foundation, Gerda & Victor B. Strand Holding A/S and Social Grill ApS.
“It has always been my desire to retire in my mid 60’s, in order to spend more time with my wife and grandchildren,” said Northridge. “I have been honoured to chair the Board of Directors of Scandinavian Tobacco Group for the past 5 years, and I have throughout enjoyed the cooperation with the Board of Directors and the strong leadership of the Company. I am confident that Scandinavian Tobacco Group is well-positioned for continued growth and development. I wish my successor, my colleagues on the Board of Directors, the Management and all employees of the Company the very best for the future.”