Kessler Named President And CEO of Lorillard

Source from:  Tobacco Reporter 08/13/2010

Lorillard's board of directors has elected Murray S. Kessler as president and chief executive officer, effective Sept. 13, 2010, succeeding Martin L. Orlowsky. Kessler has also been elected to serve as a member of the company's board of directors. In addition, Orlowsky announced his intention to retire as chairman of the board and a director, effective Dec. 31, 2010. The board of directors has entered into a consulting agreement with Orlowsky to provide ongoing advice to the company for a period of two years following his retirement. "It has been a privilege to serve as Lorillard's president and chief executive officer for the past eleven years. I have enjoyed working with the board of directors, leadership team and dedicated employees to build a successful business and oversee its transition as a public company," said Orlowsky. "With his qualifications and proven track record at UST, Inc., Murray is well positioned to continue to build on Lorillard's success. I look forward to assisting with his transition over the next few months." Speaking on behalf of Lorillard's board of directors, lead independent director Richard Roedel said, "On behalf of the Board, I want to take this opportunity to thank Marty for his leadership, vision and commitment to Lorillard. For the past year, the board of directors has searched for a chief executive officer with the industry and leadership experience to succeed Marty. Murray's outstanding background and significant experience in the tobacco industry make us confident that he is the right choice to successfully lead Lorillard going forward." Kessler, 51, joins Lorillard most recently from Altria Group, where he served as vice chair of Altria and president and chief executive officer of UST LLC, a wholly owned subsidiary. Kessler held this position from January 2009 through June 2009, the six months following the acquisition of UST Inc. by Altria. Prior to 2009, Kessler had served as chairman of the board of UST, since January 2008 and president and chief executive officer of UST since January 2007. He was president and chief operating officer from November 2005 to December 2006 and was president of USSTC from April 2000 through October 2005. During his tenure at UST, the company experienced tremendous growth including an increase in enterprise value from $3 billion to $12 billion. Prior to joining UST, Kessler had over 18 years of consumer packaged goods experience with companies, including Campbell Soup and Clorox. Kessler earned a Bachelor of Science degree in Business Administration from Villanova University and an MBA in marketing and finance from New York University's Stern School. Enditem