Philip Morris, Altria end merger talks; Juul CEO steps down

News

FILE – In this April 11, 2018 file photo, a high school student uses a vaping device near a school campus in Cambridge, Mass. A new study released Wednesday, Sept. 18, 2019, found another jump in how many U.S. teens vape nicotine-tinged electronic cigarettes. About 25% of high school seniors surveyed this year said they vaped nicotine in the previous month, up from about 21% the year before .(AP Photo/Steven Senne, File)

NEW YORK (AP) β€” The U.S. tobacco giants Philip Morris and Altria are calling off merger talks and Juul’s CEO is stepping down with safety concerns over e-cigarettes intensifying.

The makers of Marlboro cigarettes said last month that they were in discussions to become a single company, more than a decade after splitting into two as lawsuits mounted.

Altria has exclusively sold Marlboro cigarettes and other tobacco brands in the U.S., while Philip Morris has handled international sales.

Philip Morris International Inc. CEO AndrΓ© Calantzopoulos said Wednesday that the companies will instead focus on launching IQOS in the U.S. IQOS is a heat-not-burn cigarette alternative made by Philip Morris.

Altria Group Inc. also announced that K.C. Crosthwaite will become JUUL’s new CEO, replacing Kevin Burns.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Mascot Challenge
High School RedZone
Star of the Week
Black and Blue Kickoff Live
Pro Football Challenge
Carolina Eats Contest
Find A Job
Color your Weather
wspa news app free for download choose your store below
download the wspa news app from the apple app store
download the wspa news app from the google play store

Trending Stories