[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![richard_ersted Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::14294661.png) Richard C. Ersted [@richard_ersted](/creator/twitter/richard_ersted) on x XXX followers
Created: 2025-07-13 21:02:46 UTC

Text of email, redacted to remove recipients and holdings information, sent just now to $BTI $BATS investor relations:

[ redacted ],

[ redacted ]

I am writing to respectfully suggest BAT exit in full all current investments in Beyond Nicotine, including, but not limited to, Wellbeing and Stimulation (W&S), as discussed on page XX of the 2024 Annual Report.

Doing so would allow BAT’s top management to sharply focus on the transformation underway in nicotine, a complex endeavor with a competitive landscape, but one in which BAT possesses enormous potential.

In addition, an exit from Beyond Nicotine would allow BAT management to further focus on capital management, driving further material improvements in debt stack management, share buybacks, dividend strength and growth, and the company’s holdings in India Tobacco Company (ITC) and ITC Hotels.

Removal of Beyond Nicotine would allow BAT to tighten its message to potential investors, reinforcing BAT’s emphasis on the shift underway world-wide in nicotine.

Thank you for your consideration of the foregoing.


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1944502787251056815/c:line.svg)

**Related Topics**
[nicotine](/topic/nicotine)
[investment](/topic/investment)
[$bats](/topic/$bats)
[$bti](/topic/$bti)

[Post Link](https://x.com/richard_ersted/status/1944502787251056815)