The head of the company behind the Marlboro tobacco brand has called for traditional cigarettes to be banned by 2030 and said his company will stop selling them in the UK by 2030.
Philip Morris International chief executive Jacek Olczak also defended the company's planned $1.2 billion purchase of British pharmaceutical giant Vectura Group, a move that has been criticised by anti-smoking campaigners.
"We can see the world without cigarettes. And actually, the sooner it happens, the better it is for everyone," he told The Mail on Sunday.
"With the right regulation and information it can happen 10 years from now in some countries. And you can solve the problem once and forever."
Clive Black, an analyst with Shore Capital, said traditional tobacco companies such as Philip Morris were facing a "perfect storm" of increasing government regulation combined and changing consumer tastes.
Tobacco companies have in recent years focused on new products such as e-cigarettes in advanced economies, while tobacco was still being targeted to young adults in developing countries, he said.
"Whichever way you cut it the long term barriers to tobacco companies is only going to grow and grow," he told The National.
"There’s been a structural change in the consumption of tobacco, not just in the UK, but many old economies for many years."
He predicted cigarettes would still be sold in the UK but at a much smaller volume than the industry's heyday, with Office for National Statistics figures showing that in 1974 an estimated 46 per cent of adults in Britain identified as smokers
"It's quite a significant moment when a brand like Marlboro announce they believe they will not be on shelves in 10 years' time," Mr Black said.
Mr Olczak compared traditional cigarettes to petrol and diesel-powered vehicles, which will be banned from sale in the UK by 2030.
His comments are part of Philip Morris's attempts to reinvent itself.
The company behind the decades-long Marlboro Man advertising campaign plans for 50 per cent of its net revenue to come from non-smoking products by 2025 - including $1bn from its Beyond Nicotine respiratory drug delivery and wellness range.
However, while it continues to sell cigarettes, which the World Health Organisation says kill nearly eight million people globally each year, its anti-smoking message has been derided by campaigners as meaningless and dangerous. Philip Morris's $7.59bn of revenue from the second quarter of this year will not dampen their criticism.
"The industry has a long history of subverting tobacco control policies for its own financial gain, both in the UK and globally," Ian Walker, an executive director at Cancer Research, said.
Big Tobacco fights back
The proposed acquisition of Vectura is part of Philip Morris's "wellness" drive, and is the target of swingeing criticism. The FTSE 250 pharmaceutical firm makes products for the NHS designed to wean people off cigarettes.
Yet Philip Morris chairman André Calantzopoulos believes moves to block Big Tobacco's diversification into pharmaceuticals would be counterproductive, leaving the industry no alternative but to continue selling cigarettes, "the point [that] we are actually trying to leave!”
Big Tobacco companies also believe that calls to stop selling cigarettes immediately are misjudged and that the void would be filled with counterfeit products - as happened during a smoking ban in South Africa last year.
So while campaigners see the industry's refusal to disavow its cigarette-making arm as bad faith, the industry believes evolution is the only way forward.
“Deadlines are important at a certain stage, so people [companies] know how much horizon they have,” Mr Calantzopoulos said.
“It is not different from what [is being done] with alternative energies or with electric cars … [But you need to] stop the confusion that currently exists in the minds of smokers.”
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
Infobox
Western Region Asia Cup Qualifier, Al Amerat, Oman
The two finalists advance to the next stage of qualifying, in Malaysia in August
Results
UAE beat Iran by 10 wickets
Kuwait beat Saudi Arabia by eight wickets
Oman beat Bahrain by nine wickets
Qatar beat Maldives by 106 runs
Monday fixtures
UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain
Brief scoreline:
Al Wahda 2
Al Menhali 27', Tagliabue 79'
Al Nassr 3
Hamdallah 41', Giuliano 45 1', 62'
Meydan card
6.30pm: Al Maktoum Challenge Round-1 (PA) Group 1 US$65,000 (Dirt) 1,600m
7.05pm: Conditions (TB) $100,000 (Turf) 1,400m
7.40pm: UAE 2000 Guineas Trial (TB) $100,000 (D) 1,600m
8.15pm: Handicap (TB) $175,000 (T) 1,200m
8.50pm: Al Maktoum Challenge Round-1 (TB) Group 2 $350,000 (D) 1,600m
9.25pm: Handicap (TB) $175,000 (D) 1,900m
10pm: Handicap (TB) $135,000 (T) 1,600m
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
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Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
The Year Earth Changed
Directed by:Tom Beard
Narrated by: Sir David Attenborough
Stars: 4
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The five pillars of Islam
Monster Hunter: World
Capcom
PlayStation 4, Xbox One
Brief scoreline:
Manchester United 1
Mata 11'
Chelsea 1
Alonso 43'
Who is Ramon Tribulietx?
Born in Spain, Tribulietx took sole charge of Auckland in 2010 and has gone on to lead the club to 14 trophies, including seven successive Oceania Champions League crowns. Has been tipped for the vacant New Zealand national team job following Anthony Hudson's resignation last month. Had previously been considered for the role.
Killing of Qassem Suleimani
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COMPANY PROFILE
Company name: Letstango.com
Started: June 2013
Founder: Alex Tchablakian
Based: Dubai
Industry: e-commerce
Initial investment: Dh10 million
Investors: Self-funded
Total customers: 300,000 unique customers every month
Turkish Ladies
Various artists, Sony Music Turkey
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE