Our companies have a strong legacy of leadership in traditional tobacco categories, with profitable premium products and iconic brands. And while we will continue to lead in traditional tobacco categories, we recognize that consumer preferences are changing.
Today over 20 million U.S. adult smokers seek less harmful alternatives to cigarettes. This is a pivotal moment. With adult smoker demand for non-combustible alternatives, innovation and an appropriate regulatory framework, we have the opportunity to make more progress on harm reduction in the next 10 years than we have in the past 50 years. In fact, our future success depends on it. Over the next 10 years, we will invest in our business and our people to transform Altria and our industry.
To achieve this Vision, we will:
Lead the industry in operating responsibly and preventing underage use of adult products.
Develop and expand our portfolio of FDA-authorized, non-combustible products and actively convert adult smokers to them.
Maximize the profitability of our combustible products while appropriately balancing investments in Marlboro with funding growth of our non-combustible portfolio.
Invest in our manufacturing employees and facilities to enable them to be the manufacturers of choice for all Altria’s current and future portfolio of tobacco products.
Seize leadership in the external environment through communications, engagement and science-based policy and regulatory solutions.
Build employee capabilities to accelerate progress against our Vision and further evolve the way we work and behave.
Help position Cronos as a leader in a highly responsible, regulated and legalized U.S. cannabis market.
Maximize the contribution of Altria’s investments to our long-term value.