OTHER NEWS - Dec. 15, 1994

Philip Morris Chairman to Retire: The executive duo installed six months ago to run the tobacco-food behemoth is breaking up. Chairman William Murray said he will step down effective Feb. 1 and the Philip Morris Cos. board promptly named Chief Executive Geoffrey C. Bible as his successor. Bible will be the company’s third chairman in a year. Murray said he wants to make good on a promise to his family to retire before he turns 60. No change in direction is expected at the company, which generates $61 billion in annual revenue from sales of the best-selling cigarette brand Marlboro and popular food and beverages such as Maxwell House coffee, Kraft cheese, Oscar Mayer meats and Miller beer.