The CEO of Philip Morris International told the Financial Times he believes investors who have dropped the tobacco company’s stock in recent years will eventually come back in light of its pivot toward vapor-based nicotine products, which have been marketed as less harmful than cigarettes — but regulators have been cracking down on e-cigarettes and other alternatives, particularly as evidence mounts that they can be harmful to teens.
“Our intention is not only to make our company smoke-free — we want to make cigarettes obsolete,” the spokesperson said. “This requires system-level change.” Philip Morris International, headquartered in Switzerland, is the multinational firm that sells Marlboro brand cigarettes in non-US markets. It was spun off in 2008 from Altria Group, which controls Philip Morris USA.
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