Butt Out Big Tobacco! Inside the Philip Morris International Annual Meeting of the Shareholders
"It is important to know as much as possible about teenage smoking patterns and attitudes. Today's teenager is tomorrow's potential regular customer...“ Philip Morris, 1981 Bates No
A tobacco shop opened up in London The company goes public as Philip Morris & Co. & Grunebaum American stockholders begin ownership and PM begins producing cigarettes in Richmond, VA PM Incorporated splits into: PM Domestic, PM International, and PM Industrial PMI income exceeds $1 billion PM becomes Altria, Inc. to hide from their past PMI spins off from Altria to expand more aggressively in developing countries PMI History
What is PMI doing? Litigation Opposing the health warnings on cigarettes in Uruguay Government Partnerships Signed an agreement with the EU that provides PMI with customs information Front Groups Alliance of Australian Retailers International Tobacco Growers Association Corporate Social Responsibility Using natural disasters to promote brands in Indonesia Advertising Targeting youth through sponsoring concerts in Argentina
Quick Stats 2010 Profits $11.2 Billion Camilleri’s 2009 Salary $29.3 Million Global Market Share 27.6% (excluding Chinaand the U.S.) Amountof cigarettes produced in Billion Units Moneyspent in 2010 on corporate social responsibility: $25Million $5 for every tobacco related death
Inside the meeting… “While cigarettes are addictive, it’s not that hard to quit” “I don’t agree with the theory that nicotine somehow suppresses hunger” In regards to nicotine and addiction: “It’s the other compounds in cigarettes that create harm. Those are the ones that we are working to control” In regards to public smoking bans: “20% of adults smoke in this country- someone has to stand up for them”
“You are there to represent the thousands of people who are doing this work across the country” What are you doing to stop Big Tobacco?
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