Lorillard, Inc. News
Lorillard, Inc. Elects Three New Board Members
GREENSBORO, N.C., July 14 PRNewswire-FirstCall — Lorillard, Inc. (NYSE: LO) today announced the election of Virgis W. Colbert, David E.R. Dangoor and Nigel Travis to its Board of Directors, effective immediately. The Board now comprises seven members, of which five are non-executive independent Directors. Mr. Colbert will be Chair of the Compensation Committee and will serve on the Nominating and Corporate Governance Committee, Mr. Dangoor will serve on the Audit Committee and Mr. Travis will serve on the Compensation Committee.
"We are pleased to announce the election of Virgis, David and Nigel, each of whom brings extensive business experience and consumer industry knowledge to complement our Board," said Martin Orlowsky, Chairman, President and CEO, Lorillard, Inc. "These professionals have an excellent track record of success and will be valuable to Lorillard as we continue to pursue our strategic objectives and address opportunities for the Company going forward."
Virgis W. Colbert, 68, is a Senior Advisor to the Miller Brewing Company, where he worked from 1979 until December 31, 2005, in a variety of roles, including Executive Vice President of worldwide operations. Mr. Colbert serves on the Board of Directors of Merrill Lynch & Co., Inc., Sara Lee Corporation, The Stanley Works and The Manitowoc Company, Inc. He is Chairman Emeritus of the Board for the Thurgood Marshall Scholarship Fund, former Chairman of the Board of Trustees for Fisk University, and a member of Omega Psi Phi Fraternity and the Boule'. He is a life member of the National Association for the Advancement of Colored People.
David E. R. Dangoor, 58, has been President of Innoventive Partners LLC, a firm providing consulting services in the fields of Marketing Strategy and Public Relations, since 2003 and has served as a Managing Partner of the consulting firm Cato Dangoor & Associates, London, since 2002. Mr. Dangoor retired from Philip Morris in 2002 following more than 27 years in senior executive positions, which included Head of Marketing, Philip Morris Germany; President, Philip Morris Canada; Senior Vice President of Marketing, Philip Morris USA, and Executive Vice President, Philip Morris International.
Mr. Dangoor is Chairman of the Board of Directors of BioGaia AB, Stockholm, Sweden, a bio-tech company, and also serves on a number of Boards, including Lifetime Brands, Inc.; ICP Solar Technologies, Inc.; The New York City Ballet Company; The Brearley School; The Swedish-American Chamber of Commerce; The American Scandinavian Foundation, and The Berlin School of Creative Leadership, as well as on the Advisory Board of The Denihan Hospitality Group. He was a Director of the Board of Rothman's, Benson & Hedges Inc., Toronto, Canada, and also has held positions on the Boards of Philip Morris GMBH and AMER Sports International.
Nigel Travis, 58, has been President and Chief Executive Officer of Papa John's International, the world's third largest pizza company, since 2005, where he is responsible for running the company's operations across 20 countries. Prior to this he was President and Chief Operating Officer of Blockbuster Inc. where he worked for ten years. He has also worked at Burger King Corporation as Managing Director of Europe, Middle East and Africa and held positions at Grand Metropolitan, Esso Petroleum, Kraft Foods and Rolls Royce.
Messrs. Dangoor, Travis and Colbert join existing Board members Martin L. Orlowsky, David H. Taylor, Richard W. Roedel and Kit D. Dietz.
About Lorillard, Inc.
Lorillard, Inc. (NYSE: LO) is the third largest manufacturer of cigarettes in the United States. Lorillard was founded in 1760, and is the oldest continuously operating tobacco company in the U.S. Newport(R), Lorillard's flagship brand, is a menthol-flavored premium cigarette brand and the top selling menthol and second largest selling cigarette in the U.S. In addition to Newport, the Lorillard product line has five additional brand families marketed under the Kent(R), True(R), Maverick(R), Old Gold(R) and Max(R) brand names. These six brands include 44 different product offerings which vary in price, taste, flavor, length and packaging. Lorillard's manufactures all of its products at its Greensboro, North Carolina facility and maintains its headquarters there.
Forward-Looking Statements:
Certain statements made in this press release are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain the words "expect", "intend", "plan", "anticipate", "estimate", "believe", "will be", "will continue", "will likely result", and similar expressions. In addition, any statement that may be provided by management concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible actions by Lorillard, Inc. are also forward-looking statements as defined by the Reform Act.
Forward-looking statements are based on current expectations and projections about future events and are inherently subject to a variety of risks and uncertainties, many of which are beyond the control of Lorillard, Inc., that could cause actual results to differ materially from those anticipated or projected. Information describing factors that could cause actual results to differ materially from those in forward-looking statements is available in Lorillard, Inc.'s filings with the Securities and Exchange Commission. These filings are available from the SEC over the Internet or in hard copy, and are, in some cases, available from Lorillard, Inc. as well. Forward-looking statements speak only as of the time they are made, and Lorillard, Inc. expressly disclaims any obligation or undertaking to update these statements to reflect any change in expectations or beliefs or any change in events, conditions or circumstances on which any forward-looking statement is based.
SOURCE Lorillard, Inc.
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