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News > Companies
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Philip Morris seeks new ID
graphic November 15, 2001: 7:48 p.m. ET

Name change would distinguish parent from tobacco subsidiaries.
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NEW YORK (CNN/Money) - Officials at Philip Morris Companies Inc. said Thursday they would ask shareholders to approve a change in the name of the parent company to Altria Group Inc.

Under the name change, the group's tobacco-operating companies would retain the Philip Morris name.

While the parent company would be called Altria Group, Philip Morris USA, Philip Morris International, Miller Brewing and Kraft Foods would retain their current names.

Philip Morris (MO: up $0.41 to $47.99, Research, Estimates) Chairman and CEO Geoffrey Bible told employees the name change was proposed to distinguish the parent company from its two tobacco companies, which all hold the Philip Morris name.

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Bible said the change also would represent an "evolution of Philip Morris Companies Inc.," citing the recent Nabisco acquisition and the Kraft initial public offering.

Bible told employees that Altria is derived from the Latin word "altus," which means to "reach higher."

Company officials said shareholders would be asked for approval of the name at the annual meeting in April 2002. graphic





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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

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