Latest news with #SethKaufman
Yahoo
02-04-2025
- Business
- Yahoo
Philip Morris pursues smoke-free ambitions in the US
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. Philip Morris International (PMI) is growing its smoke-free business through the U.S. release of its Iqos heat-not-burn devices, starting in Austin, Texas, the firm announced in a Facebook post. The tobacco giant has also named CPG veteran Seth Kaufman its new U.S. chief commercial officer, effective March 31. Kaufmann will report to PMI U.S. CEO Stacey Kennedy. These updates come as PMI is turning its attention toward smoke-free products, including its Zyn nicotine pouches, which were so popular during 2024 that demand outpaced supply in some areas. In his new role, Kaufman will lead the commercial strategy for PMI's smoke-free products, including Zyn, General-brand snus and Iqos. Smoke-free products made up about 40% of the company's net revenue as of Q4 2024. Around this time, Goldman Sachs said it believed smoke-free products could make PMI the second-biggest nicotine player in the U.S. by 2035. Kaufman comes to PMI from Vintage Wine Estates, where he oversaw the company's restructuring as its president and CEO. He also spent nearly 18 years in a variety of roles with beverage company PepsiCo, including two years as its president of North America Nutrition and The Hive and a year and a half as the company's chief marketing officer. 'As we invest in U.S. manufacturing and create new American jobs to meet the growing demand for our smoke-free products, Seth's expertise in commercial marketing and in leading transformative growth strategies will accelerate our mission,' said Kennedy. PMI got into the smokeless market in the U.S. through its 2022 acquisition of Swedish Match, which owned the Zyn nicotine pouch brand. Zyn's popularity grew in 2024, and may grow further in 2025 after the U.S. Food and Drug Administration gave marketing approval to 20 of its products in January. Zyn was the first and so far only nicotine pouch to get that approval. Iqos, meanwhile, debuted in Japan in 2014, but was not introduced to the U.S. until late last year, according to a Bloomberg report. It is now moving into wider release. PMI's smoke-free shift could help boost its bottom line. A recent Goldman Sachs report noted that PMI expects Iqos' average net revenue per unit to be about four times higher than that of its international combustible cigarettes business. Further, it said PMI expects its Zyn U.S. gross profits to be eight times larger than combustible cigarettes. Recommended Reading FDA authorizes marketing of nicotine pouches for the first time
Associated Press
28-03-2025
- Business
- Associated Press
CPG, Wine & Spirits Veteran Seth Kaufman Joins PMI U.S. as Chief Commercial Officer as Company Expands Smoke-Free Portfolio to Meet Growing Demand
STAMFORD, Conn.--(BUSINESS WIRE)--Mar 28, 2025-- PMI U.S., which is on a mission to improve public health by providing smoke-free alternatives to legal-age nicotine consumers, announced today that Seth Kaufman will become its U.S. chief commercial officer. Kaufman, a veteran of the consumer packaged goods (CPG) industry, including wine & spirits, will lead commercial strategy for smoke-free products, including ZYN nicotine pouches, General snus and the IQOS heat-not-burn device. He will report to PMI U.S. CEO Stacey Kennedy as a member of the U.S. executive team. This press release features multimedia. View the full release here: Seth Kaufman, U.S. Chief Commercial Officer, PMI 'As we invest in U.S. manufacturing and create new American jobs to meet the growing demand for our smoke-free products, Seth's expertise in commercial marketing and in leading transformative growth strategies will accelerate our mission to improve public health by providing the 45 million legal-age nicotine consumers in the U.S. — 30 million of whom still smoke traditional cigarettes — with better alternatives,' said PMI U.S. CEO Stacey Kennedy. PMI entered the U.S. market for the first time in late 2022 acquiring Swedish Match, which has sold ZYN nicotine pouches in the U.S. for more than a decade through its U.S. division. In January 2025, following extensive scientific review, the U.S. Food and Drug Administration (FDA) authorized the marketing of 20 ZYN nicotine pouch products, finding these products to be 'appropriate for the protection of public health.' ZYN is the first and only FDA-authorized nicotine pouch. PMI U.S. affiliates are also introducing IQOS, the first FDA-authorized device that heats tobacco instead of burning it, significantly reducing exposure to harmful chemicals compared to traditional cigarettes. In 2024, PMI U.S. affiliates announced investment in a new facility in Aurora, Colorado, to produce ZYN nicotine pouches, along with a significant expansion of the Swedish Match facility in Owensboro, Kentucky, that currently makes ZYN. Kaufman brings nearly 30 years of experience in growing CPG businesses in the U.S. He spent nearly two decades moving up the ranks at PepsiCo, including as chief marketing officer and president of PepsiCo North America Nutrition and The Hive. He was president & CEO of LVMH Moët Hennessy North America before leading an enterprise-wide restructuring process at Vintage Wine Estates in California as president & CEO. Kaufman holds an MBA from the University of Michigan Ross School of Business. Business Insider named him to its Top 50 Most Innovative CMOs in the World list, and the American Advertising Federation elected him to its Hall of Achievement. Kaufman begins his new role on March 31, 2025, and will be based at PMI's corporate headquarters in Stamford, Connecticut. Philip Morris International: Delivering a smoke-free future Philip Morris International Inc. (PMI) is headquartered in Stamford, Conn., and its U.S. affiliates have more than 2,500 employees. PMI's U.S. affiliates are on a mission to improve public health by providing the nearly 30 million legal-age U.S. consumers who smoke and other legal-age nicotine consumers with innovative products that are better alternatives to continued smoking. Since 2008, PMI's affiliates have invested $14 billion globally to develop, scientifically substantiate and commercialize innovative smoke-free products. PMI's U.S. affiliates operate smoke-free product manufacturing facilities, including the Swedish Match North America Owensboro, Ky., plant that makes ZYN nicotine pouches and a facility in Wilson, N.C., that produces HEETS, the consumable for the IQOS heated tobacco device. Swedish Match North America has a regional office in Richmond, Va. U.S. marketing practices support 21+ access only PMI's U.S. affiliates are committed to responsible marketing practices focused on limiting access to adults 21+ years of age and older. PMI's U.S. affiliates do not use social media influencers in the U.S. or people under the age of 35 in marketing materials. They also employ independent age-verification systems like 'Double Verify' to direct digital advertising to those over 21, and owned digital platforms are age-gated at the point of access and restricted to current nicotine users of legal age. Swedish Match North America is a Manufacturer Advisory Council member of the We Card Program, a national nonprofit serving retailers of age-restricted products, and a founding board member and investor in TruAge ®, a free retail technology that provides stores a more accurate way of age verification, including the ability to detect fake IDs to ensure 21+ access only. Commitment to corporate social responsibility PMI's U.S. affiliates have contributed approximately $25 million to charitable causes since 2022 and look to accelerate and amplify the good work of organizations already active within communities through both financial contributions and volunteering. Three key focus areas include supporting military veterans and their families, local economic development and disaster prevention and relief. PMI's U.S. affiliates also helped form 'United to Safeguard America from Illegal Trade' (USA-IT), a coalition of nearly 100 national and state brand enforcement experts, law enforcement agencies, academics and leading business organizations working to combat illegal trade. USA-IT has trained more than 36,000 law enforcement officials. Travis Parman INDUSTRY KEYWORD: TOBACCO RETAIL SOURCE: Philip Morris International Inc. Copyright Business Wire 2025. PUB: 03/28/2025 09:27 AM/DISC: 03/28/2025 09:27 AM
