June 3 - 6, 2024
Around the Net
Former Kraft And Philip Morris Chief Dead
- Advertising Age, Tuesday, November 12, 2013 8 AM
Michael A. Miles, the former chairman and CEO of Kraft and Philip Morris Cos., died Sunday. He helped Kraft through its $13-billion merger in 1988 with tobacco and beverage maker Philip Morris, then among the biggest M&A deals ever. He was a non-smoker who led "Marlboro Friday" in 1993 by ordering a 20% cut in the price of the cigarette to keep market share. He had also wanted to split food and tobacco operations at the company.
