As Altria Eyes Pot, Philip Morris CEO Ignores Peer Pressure
- CEO Calantzopoulos says pot is illegal in many of its markets
- Potential Altria-Juul deal isn’t a competitive threat, he says
Andre Calantzopoulos
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Philip Morris International Inc. is keeping clear of the burgeoning pot market for now, in contrast with U.S. tobacco giant Altria Group Inc., which has begun talks with a Canadian marijuana producer.
“I don’t think it’s our priority right now to consider cannabis,” Chief Executive Officer Andre Calantzopoulos said in an interview at Bloomberg’s New York offices. He spoke Monday, shortly before Cronos Group Inc., one of Canada’s largest weed companies, confirmed it was holding discussions with Altria.