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Category: Business & Finance

  • BAT’s Fit2Win Program Cutting Expenses, Jobs

    BAT’s Fit2Win Program Cutting Expenses, Jobs

    British American Tobacco said its Fit2Win transformation program remains on track to deliver approximately £600 million in annual cost savings by the end of 2028 as it simplifies operations, expands technology partnerships, and streamlines its global manufacturing footprint. Launched in 2025, BAT has already transitioned selected roles to partners, including Accenture, Systems Limited, and ITC Infotech, while launching a new Future Capabilities Centre in India and continuing to optimize its manufacturing network, including the previously announced closure of its Heidelberg factory in South Africa.

    Reuters reports that as part of the initiative, BAT plans to eliminate about 5,500 roles and transfer approximately 3,500 positions to strategic partners, affecting around 9,000 employees globally, excluding the United States. The company said the changes are intended to create a more agile, technology-enabled organization capable of responding more quickly to changing market conditions and accelerating its transition toward reduced-risk products.

    CEO Tadeu Marroco said Fit2Win is creating a “simpler, faster BAT,” adding that the company is supporting affected employees throughout the transition. The restructuring comes as BAT continues to adapt to declining cigarette volumes and invest in next-generation products such as Vuse e-cigarettes and Velo nicotine pouches.

  • PMI Launches Campaign to Promote Positive Change

    PMI Launches Campaign to Promote Positive Change

    Philip Morris International launched “Believe. Further,” a multi-year platform with Italian singer Andrea Bocelli aimed at fostering discussion around innovation, progress, and positive change. Unveiled in Venice, the initiative is designed to engage cultural, institutional, and business audiences across Europe while highlighting PMI’s ongoing business transformation toward smoke-free products.

    PMI said the platform reflects its evolution from a cigarette manufacturer to a smoke-free products company, noting that smoke-free products accounted for 43% of its net revenues and were available in more than 105 markets as of the first quarter of 2026. Massimo Andolina, President of PMI’s Europe Region, said the partnership is intended to raise awareness of how technology and innovation can drive positive change, while Bocelli said the initiative reflects a shared belief in pursuing progress and improving lives.

  • PMI Named Among ‘Best Companies for the Future’

    PMI Named Among ‘Best Companies for the Future’

    Philip Morris International Inc. was named to the inaugural WSJ Leadership Institute “Best Companies for the Future” ranking, placing No. 97 overall among S&P 500 companies and third in the Food, Beverage & Tobacco sector behind Coca-Cola and PepsiCo. Compiled by Bendable Labs, the ranking evaluates companies across six areas: AI readiness, innovation, talent readiness, financial fitness, resilience, and agility.

    PMI said the recognition reflects its transformation into a consumer goods company focused on smoke-free products, supported by investments in science, innovation, and organizational capabilities. Group CEO Jacek Olczak said the ranking highlights the company’s progress in adapting to changing consumer preferences and advancing its long-term smoke-free strategy. PMI also noted that its flagship heated tobacco brand, IQOS, was recently named to Kantar’s BrandZ 2026 Most Valuable Global Brands ranking.

  • PMI Examines Role of Science in Smoke-Free Future

    PMI Examines Role of Science in Smoke-Free Future

    Philip Morris International convened public health experts, academics, consumer advocates, and policymakers in Rabat, Morocco, for its Technovation Smoke-Free conference on June 24, which focused on tobacco harm reduction, smoke-free alternatives, and evidence-based health policy. Discussions centered on the role of science and innovation in reducing smoking-related harm, with speakers highlighting the potential of smoke-free products and the importance of regulatory frameworks, consumer information, and locally driven public health strategies across Africa.

    The event featured senior PMI executives, including communications executive Tommaso Di Giovanni and Maghreb Managing Director Taylan Süer, alongside researchers and public health experts from Morocco, Tunisia, Libya, Senegal, and France. Participants discussed nicotine-related misconceptions, consumer access to information, and health-policy sovereignty, emphasizing the need for African countries to develop public health approaches tailored to local conditions. The conference concluded with calls for greater collaboration between scientific communities and policymakers to support evidence-based decision-making and harm-reduction strategies.

  • Smokeless Only Products Growing in Nicotine Market: Report

    Smokeless Only Products Growing in Nicotine Market: Report

    Smokeless nicotine products, including nicotine pouches, continued to gain share in the U.S. nicotine market, with NielsenIQ and Goldman Sachs data showing the segment up more than 8% year over year for the 52 weeks ended May 30. While cigarettes still accounted for nearly 70% of the total nicotine category, sales declined 2.4%. Cigars fell about 1%, and vapes recorded double-digit declines. Grand View Research projects U.S. nicotine pouch sales to grow at a compound annual growth rate of nearly 25% through 2033, positioning the segment as the fastest-growing area within smokeless tobacco.

    The report said market concentration remains high, with Altria Group, British American Tobacco plc, and Swedish Match accounting for more than 90% of smokeless nicotine sales.

  • ALP Plans Expansion into 11 International Markets

    ALP Plans Expansion into 11 International Markets

    ALP announced that it will launch online sales for its nicotine pouches in 11 international markets starting in July, CEO Lorenzo De Plano told Reuters. De Plano said ALP, co-owned by Tucker Carlson and Turning Point Brands, is currently the fourth- or fifth-largest nicotine pouch brand in the United States with roughly 2% market share, and plans to expand its European presence to become the second-largest brand in the European Union by 2030. The rollout will begin in Britain, Ireland, Greece, Switzerland, and Romania in July, followed by additional launches across the Czech Republic, Poland, Portugal, Spain, Sweden, and Denmark later in 2026, with in-store retail expansion in the U.K. targeted for 2027.

    The company said it has secured manufacturing capacity in Lithuania for 20 million units in 2026 and 50 million units in 2027, and is also expanding supplier agreements to support production and distribution growth. ALP also entered a marketing partnership with former UFC champion Conor McGregor to support international expansion efforts.

  • Shopify to Ban U.S. Vape Sales

    Shopify to Ban U.S. Vape Sales

    Shopify Inc., the Canada-based e-commerce infrastructure company, is reportedly preparing to ban all vape sales on its platform in the U.S., according to sources cited by Reuters. The move follows sustained pressure from a bipartisan coalition of 25 U.S. state attorneys general who have been pushing technology and payments firms to crack down on online sales of unlicensed e-cigarettes, which regulators estimate represent a multibillion-dollar illegal market. Shopify said in a statement that it prohibits illegal activity on its platform and updates enforcement policies in line with legal requirements, though it did not confirm the scope or timing of the reported ban.

  • PMI Urges EU to Ensure ‘Fair Treatment’ of Tobacco in Review

    PMI Urges EU to Ensure ‘Fair Treatment’ of Tobacco in Review

    Philip Morris International called on the European Union to ensure that the tobacco sector receives the same regulatory treatment as other legal industries as policymakers prepare revisions to the Tobacco Excise Directive (TED) and the Tobacco Products Directive (TPD). In a letter to Ursula von der Leyen, published by PMI’s Europe President Massimo Andolina, the company argued that current EU policies are shaped by bias against the tobacco industry and fail to recognize its economic contribution. PMI said the sector supports more than two million jobs across Europe, contributes approximately €180 billion in annual tax revenue, and maintains a significant regional manufacturing and supply chain footprint.

    The company also highlighted its investment in smoke-free products and harm-reduction innovation, arguing that forthcoming regulatory decisions will influence Europe’s ability to attract investment and maintain competitiveness in the sector. PMI called for future tobacco regulation to be guided by evidence, transparency and inclusiveness, while EU institutions continue to review potential changes to tobacco taxation and product rules across the bloc.

  • Plasencia Introduces First Global Brand Ambassador

    Plasencia Introduces First Global Brand Ambassador

    Plasencia Cigars announced that it appointed Rodrigo Medina Mendieta as its first-ever Global Brand Ambassador, creating a new role aimed at strengthening the company’s international presence and brand storytelling. The appointment recognizes Medina Mendieta’s nearly 11 years with the company, during which he helped expand Plasencia’s footprint across Europe, Asia, the Middle East and other global markets. As Global Brand Ambassador, he will represent the brand worldwide, working with retailers, distributors, media and consumers to promote the Plasencia family’s five-generation tobacco heritage, craftsmanship and vertically integrated approach to cigar production.

  • PMI Announces New Regional Leadership

    PMI Announces New Regional Leadership

    Philip Morris International announced a series of regional leadership changes effective August 1, as the company continues to advance its smoke-free transformation and implement the organizational structure introduced in late 2025. Marco Hannappel will become president of PMI’s Europe Region, succeeding Massimo Andolina, who was recently appointed Group Chief Financial Officer, while Can Kuterdem will take over as president of the Latin America and Canada Region.

    The appointments complete PMI’s four-region leadership model, alongside Gijs de Best, who assumed leadership of the South Asia, Indochina, CIS, Middle East and Africa Region in January, and Vassilis Gkatzelis, who continues to lead the East and Southeast Asia, Pacific and Global Travel Retail Region. All four regional presidents report to Frederic de Wilde, CEO of PMI International, which oversees the business unit generating the majority of PMI’s global revenue. The leadership changes align with PMI’s broader strategy to strengthen execution and support growth across its expanding smoke-free portfolio and evolving global consumer goods business.