The president and CEO of Imperial Tobacco Canada, Jorge Araya, is to address media representatives on the challenges faced by the tobacco industry, including that caused by ‘inconsistencies between proposed regulatory approaches for tobacco and marijuana’.
In a press note, Imperial, which is the largest tobacco company in the country, said it had run its business in an increasingly complex and challenging marketplace since 1908.
‘Today it faces government expropriation of its branding, aggressive competition from a contraband tobacco industry that comprises more than 30 per cent of the market in Ontario, and a soon-to-be-legalized marijuana market,’ the note said.
‘Mr. Araya will discuss these challenges, and particularly the concern that an absence of legal tobacco branding is likely to result in consumers migrating to contraband products.
‘He will also discuss the company’s enthusiasm for less-risky tobacco and nicotine products, and the inconsistencies between proposed regulatory approaches for tobacco and marijuana.’
The media luncheon at which Araya will speak is being hosted by the Empire Club of Canada in Toronto on September 28.