Company Overview of R.J. Reynolds Tobacco Company
R.J. Reynolds Tobacco Company manufactures and markets cigarettes for adult tobacco consumers in the United States. It offers its products through a network of retailers and wholesalers. R.J. Reynolds Tobacco Company was formerly known as Brown & Williamson U.S.A., Inc. The company was founded in 1875 and is based in Winston-Salem, North Carolina. R.J. Reynolds Tobacco Company operates as a subsidiary of R.J. Reynolds Tobacco Holdings, Inc.
401 North Main Street
Winston-Salem, NC 27101
Founded in 1875
Key Executives for R.J. Reynolds Tobacco Company
President and Chief Commercial Officer
Chief Scientific Officer and Executive Vice President of Operations
Executive Vice President and General Counsel
Senior Vice President of Research & Development
Compensation as of Fiscal Year 2014.
R.J. Reynolds Tobacco Company Key Developments
Philip Morris, RJ Reynolds and Lorillard Agree to Pay USD 100 Million to Settle More Than 400 Lawsuits
Feb 26 15
Philip Morris, RJ Reynolds and Lorillard have agreed to pay USD 100 million to settle more than 400 lawsuits claiming that smoking damaged people's health. A judge awarded a combined USD 100 million (AUD 126.72 million) to the plaintiffs in the lawsuits filed in Florida by smokers or their families, seeking damages for injuries caused by smoking. As part of the settlement, Philip Morris USA, RJ Reynolds Tobacco Company and Lorillard Tobacco Company will collectively pay USD 100 million to the plaintiffs. Under the terms of the agreement, Philip Morris USA and RJ Reynolds will each pay USD 42.5 million to resolve the federal cases. Lorillard will pay USD 15 million. The settlement only involves cases that are pending in federal court, the law firm noted, not cases filed in state court. The tentative agreement is subject to the approval of all the plaintiffs. The settled cases are part of the so-called Engle cases, a Florida class-action lawsuit filed against the cigarette companies in 1994. They were also part of a 2006 Florida Supreme Court decision to decertify the class action, saying the USD 145 billion in punitive damages to the entire group was 'excessive'. However, the top court opened the door to individual lawsuits, and allowed the findings to stand in the case, including that smoking cigarettes harmed health and the tobacco companies had knowingly concealed the health effects of cigarettes or their addictive nature.
Reynolds American, Philip Morris, Lorillard Agree to Pay $100 Million to Settle Florida Federal Court Lawsuits
Feb 25 15
Reynolds American (RAI), Philip Morris (PM) and Lorillard (LO) have agreed to collectively pay $100 million to resolve nearly all cases related to hundreds of smoking and health-related lawsuits that are pending but not yet tried in Florida federal courts. Under the terms of the accord, Reynolds American's RJ Reynolds unit will pay $42.5 million, Philip Morris will pay $42.5 million and Lorillard will pay $15 million. These individual smoking and health cases arose out of the so-called Engle class action in Florida. The agreement only covers cases pending in federal court and does not apply to the cases pending against the tobacco companies in the state courts across Florida.
R.J. Reynolds Tobacco Company Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended Dec. 31, 2014
Feb 10 15
R.J. Reynolds Tobacco Company announced unaudited earnings results for the fourth quarter and full year ended Dec. 31, 2014. For the quarter, the company reported operating income of $234 million on net sales of $1,669 million compared to operating income of $531 million on net sales of $1,641 million reported in the same period last year.
For the year, the company reported operating income of $2,173 million on net sales of $6,767 million compared to operating income of $2,587 million on net sales of $6,728 million reported in the same period last year.
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