The president of Reynolds American Inc. is stepping down. 

Parent company British American Tobacco PLC announced Wednesday that Ricardo Oberlander will leave his post on August 31. Oberlander has been the chief executive at Reynolds American for about two and a half years. He spent seven years as a member of the Management Board.

According to a news release, Oberlander is leaving “in order to pursue other opportunities.” He'll be replaced by Guy Meldrum, who has served in a number of senior roles with British American.

British American Chief Executive Jack Bowles released a statement thanking Oberlander for leaving the company in robust shape.

Reynolds Tobacco Co., which has deep roots in Winston-Salem, merged with a British American unit in 2004 and was fully taken over by the company in 2017. Now known as Reynolds American, the company maintains its headquarters in the city. It remains the second-largest tobacco company in the U.S.

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