Tobacco Giant ITG Brands Names New CEO

Source from:  Greensboro News & Record 11/22/2017

America’s third-largest tobacco company has named Dan Carr as its new president and chief executive officer.

He will succeed David Taylor, who announced he will retire from ITG Brands on Jan. 31, 2018.

Greensboro-based ITG Brands products include Winston, Kool, Salem, Maverick and USA Gold cigarettes; Dutch Masters, Backwoods and Phillies cigars; and blu eCigs electronic cigarettes.

“This step is the culmination of a long succession planning process,” Taylor said in a news release. “Dan was recruited for this position based on his extensive leadership experience in the tobacco industry, and he has spent the last year as president learning the complexities of our business operations.”

Taylor, who led a very complex integration process as ITG Brands’ founding chief executive, guided the company through the launch of its initial merchandising and marketing plans, successful re-branding campaigns and reorganization. ITG is the company that succeeded Lorillard, which was purchased in 2014 by Reynolds American.

Reynolds’ primary interest in Lorillard was to acquire its Newport menthol brand, one of the nation’s top cigarette brands.

As part of the complex deal, Reynolds sold some of its less-popular brands and Lorillard’s East Market Street factory to a third company, ITG Brands, the U.S. division of Britain’s Imperial Tobacco Group.  Enditem