Miles Named Chairman of Philip Morris

Philip Morris Cos. named Michael A. Miles to succeed Hamish Maxwell as chairman and chief executive of the tobacco, food and beer giant.

Pending the board’s approval, Miles, 51, will take over Sept. 1 from Maxwell, 64, who is scheduled to retire in August.

Meanwhile, Miles, now chairman and chief executive of the company’s Kraft General Foods subsidiary and vice chairman of the parent company, will serve as deputy chairman of Philip Morris starting Monday. Maxwell is expected to continue as chairman of the board’s executive committee after his retirement.

Miles would be the first chairman in Philip Morris’ 144-year history to have no roots in the tobacco business. His appointment may signal a shift in the company’s emphasis to its big food business.

“The designation of Mike Miles as my successor as chief executive officer reinforces Philip Morris’ commitment to maintain its ambition to be the world’s most successful packaged-goods company,” Maxwell said.

Completing the management restructuring, effective Monday, the board:

* Elected Philip Morris President John A. Murray, 61, vice chairman.

* Elected William Murray, 55, president and chief operating officer. Murray is currently vice chairman in charge of the domestic and international tobacco business.

* Named Hans G. Storr, the 59-year-old chief financial officer, to the position of executive vice president.

* Appointed Geoffrey C. Bible, 53, current president of Kraft General Foods, to the new position of corporate executive vice president for the food and tobacco businesses outside North America.

* Named General Foods U.S.A. President Richard P. Mayer, 51, chairman and chief executive of Kraft General Foods North America.