British American Tobacco CEO will step down
It's unclear when exactly Durante would leave, Sky News reported, noting one person who cautioned it may not be imminent. Sky News said BAT's chief operating officer Jack Bowles is regarded the frontrunner to take over, though chief marketing officer Andrew Gray is also rumored to have been a contender.
BAT acquired U.S.-based tobacco company Reynolds American last year. Like its Big Tobacco competitors, BAT is trying to pivot toward nicotine alternatives like e-cigarettes and more recently, heat-not-burn tobacco products.
Shares of BAT fell 1 percent. They've slid 30 percent this year.
A BAT spokesman did not immediately respond to CNBC's request for comment.