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Michael Miles was Chairman and Chief Executive of Kraft General Foods/Kraft Inc. when Philip Morris acquired it in 1988.(Reuters 6/20/94, DJ 6/21/94) Miles became Chairman and CEO of Philip Morris Companies Inc. in August 1991.(Reuters 6/20/94, DJ 6/21/94) Miles took over as CEO after running the company's food business.(U.S. News 4/18/94) Miles' base salary and bonus in 1992 was $1.8 million, in 1993 it was $1.3 million.(WSJ 6/3/94)
A nonsmoker, Miles quit smoking years ago.(Brown & Williamson 6/13/94, U.S. News 4/18/94). Miles is methodical, the first nonsmoker to run Philip Morris. If the company is split, it is speculated that Miles would return to the food industry.(WSJ 6/3/94) Miles strongly supported spinning off tobacco operations.(Brown & Williamson 6/13/94) Miles resigned as Chairman and CEO of Philip Morris in June 1994. Geoffrey C. Bible was named president and CEO and R. William "Bill" Murray was named chairman (Reuters 6/20/94).
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