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Altria restructuring eyes NGP growth

23 May 2018. Altria Group will undergo restructuring by separating its core tobacco businesses from its portfolio of non-combustible and Next Generation tobacco Products (NGPs), establishing two divisions, reshuffling management, and creating the new position Chief Growth Officer, the company said in a press release.

Altria companies Philip Morris USA, USTC, Middleton and Nat Sherman will form its tobacco division, and Nu Mark will focus on non-combustible nicotine products.

Altria, which currently has a Chief Operating Officer overseeing all operating companies, said it will align its management structure with the new dual approach. Altria said a Senior Vice President of Tobacco Products will oversee the tobacco portfolio while a President and CEO of Nu Mark will oversee NGPs.

Jody Begley has been appointed to the Senior Vice President of Tobacco Products role and will report to Vice Chairman and CFO, Billy Gifford. In the tobacco division, Heather Newman will be President and CEO of Philip Morris USA, Shannon Leistra will be President and CEO of the smokeless tobacco division USSTC, Ryan Bauersachs will be Managing Director and General Manager of Middleton, and Dominik Meier will be Managing Director and General Manager of Nat Sherman.

Brian Quigley, who has been President and CEO of USTC since 2012, will be President and CEO of Altria’s “innovative products business”, Nu Mark, and will report to Altria Chairman and CEO, Howard Willard.

K.C. Crosthwaite has been appointed Senior Vice President and Chief Growth Officer at Altria Client Services, having led Philip Morris USA as President and CEO for the past year.

The Chief Growth Officer’s “function which will identify and pursue Altria’s strategic and innovative growth priorities across the tobacco landscape. This function will identify marketplace and adult tobacco consumer insights and translate them into strategies for product development, consumer engagement, future of commerce and business development,” Altria said, adding that it aspires to be the leading US maker of non-combustible, reduced-risk tobacco products.

Altria said the changes will be effective as of 1 June.

“This is a dynamic time in the tobacco industry, and just as we lead in traditional tobacco products, we intend to lead in offering adult smokers more choices in innovative, non-combustible, reduced-risk products […] We expect this new structure to accelerate our innovation pipeline, maximise our core tobacco businesses and allow us to continue to reward shareholders,” Altria Chairman and CEO Howard Willard commented.