1025 GMT - Imperial Brands shouldn't see a big shift in dynamics despite the leadership change, Panmure Liberum analyst Rae Maile writes in a research note. The analyst doesn't expect a change to the model, the direction of travel or the strategy of the U.K.-listed tobacco group. Lukas Paravicini took over as CEO in October, replacing Stefan Bomhard who plans to retire after the transition period. "The CEO may have changed, but he was previously the CFO," he says. The delivery of modest profit growth and big share repurchases continues, Maile adds. "What matters for shareholders, and what delivers the strong returns, is consistency of growth from a modest valuation." Shares rise 2.5%. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

November 18, 2025 05:25 ET (10:25 GMT)

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