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BUSINESS
August 29, 1991 | ASSOCIATED PRESS
For the first time in its history, Philip Morris Cos. has gone outside the ranks of its tobacco operation to name a chairman and chief executive. The company tapped Michael A. Miles, former chairman of Kraft General Foods Inc., to succeed Hamish Maxwell, who is retiring at age 65. Miles, 51, deputy chairman since April 1, was chairman and chief executive of Kraft General Foods Inc., which Philip Morris acquired in 1988. He joined Kraft Inc.
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CALIFORNIA | LOCAL
April 22, 2014
Hamish Maxwell Philip Morris Cos. CEO Hamish Maxwell, 87, who steered Philip Morris Cos. in its purchase of General Foods Corp. and takeover of Kraft Inc., milestones in transforming the tobacco company into a consumer products conglomerate in the 1980s, died Saturday at his home in Palm Beach, Fla. He had bladder cancer, said his daughter Graham Russell. Maxwell spent 37 years with Philip Morris, culminating with his tenure as chairman and chief executive officer from 1984 to 1991.
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CALIFORNIA | LOCAL
April 22, 2014
Hamish Maxwell Philip Morris Cos. CEO Hamish Maxwell, 87, who steered Philip Morris Cos. in its purchase of General Foods Corp. and takeover of Kraft Inc., milestones in transforming the tobacco company into a consumer products conglomerate in the 1980s, died Saturday at his home in Palm Beach, Fla. He had bladder cancer, said his daughter Graham Russell. Maxwell spent 37 years with Philip Morris, culminating with his tenure as chairman and chief executive officer from 1984 to 1991.
BUSINESS
August 29, 1991 | ASSOCIATED PRESS
For the first time in its history, Philip Morris Cos. has gone outside the ranks of its tobacco operation to name a chairman and chief executive. The company tapped Michael A. Miles, former chairman of Kraft General Foods Inc., to succeed Hamish Maxwell, who is retiring at age 65. Miles, 51, deputy chairman since April 1, was chairman and chief executive of Kraft General Foods Inc., which Philip Morris acquired in 1988. He joined Kraft Inc.
NEWS
February 11, 1987 | Associated Press
After 76 years of slovenly housekeeping, the New York Public Library announced Tuesday that it will spend $1 million to take vacuum cleaners and dust cloths to its 3.5 million books, thousands of which are crumbling from neglect. A team of about half a dozen Soviet and Polish emigres will devote the next five years to dusting the library's 88 miles of bookshelves--the distance between New York and Philadelphia.
CALIFORNIA | LOCAL
September 29, 1985 | Associated Press
General Foods Corp. said Friday that it has agreed to be taken over by Philip Morris Cos. Inc. for about $5.7 billion, to form the nation's biggest consumer products company. Under the agreement to undertake the largest non-oil acquisition in corporate history, the tobacco giant will buy all of General Foods' 47.3 million shares at $120 per share in cash. The merger is subject to the approval of both firms' boards of directors.
BUSINESS
October 25, 1989 | From Associated Press
Philip Morris Companies Inc. today announced it has adopted a poison pill defense against unfriendly takeover attempts. Philip Morris said it was not aware of any takeover attempt but said the plan will guard against "abusive tactics to gain control of the company without paying all shareholders a premium value." Philip Morris is the world's largest tobacco company. It also owns Kraft, General Foods and Miller Brewing Co., making it the world's largest consumer products concern.
NEWS
November 27, 1988 | Associated Press
They bent the no-smoking rules a bit at Kraft Inc. when the chief executive of the Philip Morris tobacco company dropped in. New York-based Philip Morris, the nation's biggest tobacco manufacturer, is acquiring Glenview-based Kraft for $13 billion. Kraft's food-service headquarters are in this Chicago suburb.
BUSINESS
April 18, 1990 | From Times Wire Services
Philip Morris Cos. today reported first-quarter earnings of $775 million, or 84 cents a share, up 31.4% from $590 million, or 64 cents a share, in the year-ago period. The food and tobacco giant posted revenues of $11.38 billion, up 7.3% from $10.61 billion in the first quarter of 1989. "Philip Morris U.S.A.'s operating revenues increased on slightly higher cigarette unit volume," Chairman Hamish Maxwell said. "Market share increased over the first quarter of 1989."
BUSINESS
March 28, 1991
Philip Morris Cos. named Michael A. Miles to succeed Hamish Maxwell as chairman and chief executive of the tobacco, food and beer giant. Pending the board's approval, Miles, 51, will take over Sept. 1 from Maxwell, 64, who is scheduled to retire in August. Meanwhile, Miles, now chairman and chief executive of the company's Kraft General Foods subsidiary and vice chairman of the parent company, will serve as deputy chairman of Philip Morris starting Monday.
BUSINESS
October 26, 1988 | NANCY RIVERA BROOKS, Times Staff Writer
The rhetoric meter shot even higher Tuesday as Kraft Chairman John Richman challenged his counterpart at Philip Morris to match Kraft's $110-per-share restructuring plan or go away. Meanwhile, Kraft's stock price slipped $3 a share to $99 in active trading, reflecting Wall Street's uncertainty about the real value of Kraft's corporate overhaul. Kraft offered its plan Sunday.
BUSINESS
October 21, 1988 | Associated Press
Kraft Inc., target of an $11-billion takeover bid, fired off a terse letter to the chairman of Philip Morris Cos. Thursday rejecting a request for negotiations. The letter disclosed that Kraft Chairman John M. Richman crossed paths with Philip Morris Chairman Hamish Maxwell a few days before the business world was stunned by Monday's cash bid.
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