Philip Morris Names Miles Chairman
For the first time in its history, Philip Morris Cos. has gone outside the ranks of its tobacco operation to name a chairman and chief executive.
The company tapped Michael A. Miles, former chairman of Kraft General Foods Inc., to succeed Hamish Maxwell, who is retiring at age 65.
Miles, 51, deputy chairman since April 1, was chairman and chief executive of Kraft General Foods Inc., which Philip Morris acquired in 1988. He joined Kraft Inc. as president and chief operating officer in 1982 after serving in several executive posts at Hublein Inc.
Maxwell, who will continue to serve as chairman of the executive committee, has spent 37 years at the tobacco, food and brewing giant. Philip Morris earned $3.5 billion on revenue of $51 billion last year.