Big Tobacco running out of puff? Don’t bet on it
The tobacco industry has long been in the sights of regulators, governments and ethical investor lobbyists. Yet the industry is delivering stellar double-digit returns year after year
Nothing in life stands still. And large multinational corporations with stock market valuations of €30 billion and more certainly do not. Every plc worth its salt adapts. But industries that get disrupted are usually disrupted by third parties.
Yet Big Tobacco is now disrupting itself with its next generation nicotine delivery innovations. Is this the latest savvy move by an industry that has managed to overcome public disdain by delivering significant shareholder return? ...
