Big Tobacco sees its future in cigarettes, not vaping
In 2012, in the early days of the rise of e-cigarettes, Kingsley Wheaton [...] said “Our core business is, and will remain in, tobacco”. So have the intervening four years made much difference? Apparently not. This month, senior Philip Morris International executive Werner Barth told shareholders at its investor day presentations the company fully expected its cigarette brands to remain highly profitable.