Company: Altria Group (formerly known as Philip Morris Co., Inc.)

Founders: Philip Morris and John Middleton

Industry: Tobacco

History:

The Altria Group’s history traces way back to the 1800s when tobacconist Philip Morris opened shop in London selling fine, imported cigars in 1847. By 1854, Philip Morris was able to make his own brand of cigarettes and sell them under the brand name Philip Morris.

Philip Morris and Co. became King Edward VII’s royally decreed tobacconist in 1901. A year after, Philip Morris and Co. was incorporated in New York between its British owners and its American associates. In 1929, Philip Morris and Co. purchased an old tobacco factory in Richmond, Virginia and begun making its own line of cigarettes. In 1952, it launched a new factory in Louisville, Kentucky to meet the rising demand for quality cigarettes.

Over the years, Philip Morris enjoyed high increase in sales and became the United States’ largest tobacco company and one of the world’s largest manufacturers of tobacco products. Below are some of Philip Morris’s known tobacco brands:

• Philip Morris
• Marlboro
• Virginia Slims
• Parliament
• Benson and Hedges

Aside from paper milling, Philip Morris also entered into the brewery and food industries. In 1968, Philip Morris took over Miller Brewing Company, which it would sell to South African Breweries in 2002, with 36% shares retained to Philip Morris. In 1988, the company bought Kraft Foods and later merged them with Nabisco in 2000.

In 2003, Philip Morris changed its name to The Altria Group, Inc.

By 2007, the Altria Group announced that they would put their entire focus on tobacco production and distribution and the spin-off of Kraft Foods. By 2007, Philip Morris announced their intent to shut down the North Carolina plant, eliminating all jobs and phasing out the production by 2010. The Altria Group then spins-off Philip Morris to stockholders.

Presently, the Altria Group is now stationed in Henrico County, New Virginia.

Leadership:

The Altria Group Management Team

• Michael E. Szymanczyk – Chairman and Chief Executive Officer, Altria Group, Inc.
• Martin J. Barrington – Executive Vice President and Chief Compliance and Administrative Officer, Altria Group, Inc.
• David R. Beran – Executive Vice President and Chief Financial Officer, Altria Group, Inc.

Trivia: Their flagship brand, Marlboro, is the world’s most famous brand of cigarettes.