Cannabis is part of the future, says British American Tobacco CEO
"As we think about our portfolio for the future, certainly beyond nicotine products are interesting for us as another wave of future growth," BAT Chief Executive Officer Jack Bowles said
Tobacco giant British American Tobacco (BAT) said that it sees cannabis as part of its future as it tries to move away from selling traditional cigarettes.
The company said it wanted to "accelerate" its transformation by reducing the health impact of its products, reports the BBC.
In March, BAT took a stake in Canadian medical cannabis maker Organigram. It also signed a deal to research a new range of adult cannabis products, initially focused on cannabidiol (CBD).
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"As we think about our portfolio for the future, certainly beyond nicotine products are interesting for us as another wave of future growth," BAT Chief Executive Officer Jack Bowles told Radio 4's Today Programme.
Bowles said it saw cannabis related products as part of its future growth. The firm is currently trialling a CBD vape product in Manchester.
"I think [CBD vaping] is part of the future, but the present challenge is reduced harm in tobacco and nicotine alternatives, encouraging people to switch."
The tobacco giant also saw its fastest gain in new customers, with users of non-combustible products - such as vapes - jumping 2.6 million to 16.1 million.
