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How did the Spin-off affect the composition of the Board of Directors for Altria?
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Altria's Board of Directors post-Spin-off includes four continuing members from the pre-Spin-off Altria Board of Directors. They are Elizabeth E. Bailey, Robert E.R. Huntley, Thomas W. Jones and George Muñoz. They were joined by four new directors: Thomas F. Farrell II, Chairman, President and Chief Executive Officer of Dominion Resources Incorporated, and Gerald L. Baliles, Director of the Miller Center of Public Affairs at the University of Virginia and former Governor of Virginia, Dinyar S. Devitre, who stepped down as Chief Financial Officer of Altria following the Spin-off, and Michael E. Szymanczyk, who serves as Chairman of the Board and Chief Executive Officer of Altria. John S. Reed elected to retire from the Altria Board of Directors. He is one of the longest-serving members of the Board of Directors and has provided outstanding leadership throughout his more than 30 years of distinguished service to the company and its shareholders. Read more about Altria's Board of Directors 
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How did the Spin-off affect the management structure and leadership at Altria? At Philip Morris USA? At Philip Morris International? |
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Michael E. Szymanczyk serves as Chairman of the Board and Chief Executive Officer of Altria Group, Inc. Louis C. Camilleri serves as Chairman of the Board and Chief Executive Officer of PMI following his resignation from those posts at Altria. André Calantzopoulos serves as Chief Operating Officer of PMI. David Beran serves as Chief Financial Officer of Altria, and Hermann Waldemer serves as Chief Financial Officer of PMI. Read more about Altria Group's management team
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How does the Spin-off affect the relationship between Altria and PM USA?
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Altria continues to own 100% of PM USA.
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Will PMI and PM USA become competitors in the tobacco industry? |
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While such a scenario is always possible, it is largely theoretical as PM USA has no international presence, infrastructure, trademarks or intellectual property that would enable it to enter the highly competitive international marketplace in a viable manner. Much the same can be said for PMI in the U.S. market.
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What will happen to the brands that PMI and PM USA both have, such as Marlboro? Who will keep the trademarks? |
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Each company owns its trademarks exclusively for the jurisdictions where they sell their products. As it relates to Marlboro, the brand is managed separately today and has been for many years and continues to evolve its offerings differently in the U.S. and internationally to meet and anticipate diverse consumer preferences, while retaining its core and timeless brand equity.
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Where will Altria hold its 2008 Annual Meeting? |
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The date for the Annual Meeting of Stockholders for Altria has been moved to May 28, 2008, in Richmond, Virginia.
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Was a shareholder vote required to complete the Spin-off? If not, why? |
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No shareholder approval was required for the Spin-off. Altria Group, Inc. is incorporated in the state of Virginia. Virginia law gives the Board authority to declare the Spin-off. |
