John M. Richman, vice chairman of Philip...

John M. Richman, vice chairman of Philip Morris Cos. and chairman and chief executive of Kraft General Foods, plans to retire at the end of the year. Michael A. Miles, president and chief operating officer of Kraft, will succeed Richman as chief executive immediately. Miles is also expected to be nominated as vice chairman. Richman will become counsel to the New York law firm Wachtell, Lipton, Rosen & Katz.