Tobacco Does It Have A Future?

It always seemed incongruous that Michael A. Miles, CEO of Philip Morris Cos., the world's largest cigarette maker, didn't smoke. But the significance of his resignation on June 17 was all too clear. Miles, the main advocate of a plan to split Philip Morris into separate food and tobacco companies, was suddenly replaced by Geoffrey C. Bible, an avid and unapologetic smoker--and a true believer in the war Philip Morris and other tobacco companies are waging against the growing antismoking legions. "It is our intention to defend our industry and consumers briskly and strenuously," Bible said at a news conference on June 21, brandishing a Marlboro menthol. "And you will see more of this."

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