Stefan Bomhard, the outgoing CEO of cigarette manufacturer Imperial Brands (brands include Lambert & Butler and Woodbines), has become an Independent Director at Flutter Entertainment.
The new board member will begin his role on October 1, the same day that Imperial Brands’ current Chief Financial Officer, Lukas Paravicini, succeeds him as CEO. However, Bomhard will continue to work with the tobacco company until early 2026.
Bomhard’s responsibilities, in line with the typical functions of an Independent Director, will primarily involve strategic advice and guidance. He will not take part in the day-to-day management of the company’s betting and gaming operations.
Bomhard has led Imperial Brands since 2020, taking the position after a five-year tenure as CEO of automotive distribution company Inchcape. His experience managing a multinational corporation with a portfolio of well-known brands has likely attracted Flutter’s interest. Among Imperial’s products are popular cigarette brands, as well as Golden Virginia rolling tobacco and Rizla rolling papers.
This can be compared to Flutter’s brand portfolio, which includes some of the industry’s biggest names: Sky Bet and Paddy Power in the UK and Ireland, FanDuel in the US, Sportsbet in Australia, and Snai and Sisal in Italy.
John Bryant, Chair of the Board, said “Following an extensive search as part of our on-going Board renewal process, I am delighted to welcome Stefan as a non-executive director. Stefan has significant experience working in international environments, particularly in the operation, sales and marketing of well-known consumer brands.
“We look forward to Stefan joining the Board and contributing to Flutter’s future.”
Flutter’s decision to appoint an independent director from the tobacco industry is noteworthy, especially against the backdrop of ongoing debates about gambling regulation, its potential harms, and parallels with other addictions.
In the UK, activists have repeatedly called on the government to apply the same measures to gambling as to cigarettes, particularly in terms of marketing. This issue was actively discussed during the review of the Gambling Act and the debates surrounding sports sponsorships.
Some governments are also considering combining tobacco, gambling, and alcohol into a single package of so-called “sin taxes.” The Indian government, in particular, took this step shortly before rushing a ban on real-money games through parliament.
Similar measures are now under consideration in Mexico, while UK Chancellor of the Exchequer Rachel Reeves is reportedly examining the possibility of introducing a “sin tax” on gambling, alcohol, tobacco, and high-fat foods as part of the next budget.
Amid tightening regulations and shifting tax policies, the new Independent Director’s experience in the tobacco industry could prove valuable for Flutter.
The tobacco sector is one of the most heavily regulated industries in the world. Given Flutter’s international reach across all five continents, having a board member with experience navigating the global regulatory environment of a controversial industry could play an important role.
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