THE RESULTS: Marlboro maker Altria Group Inc.'s fourth-quarter profit fell about 9 percent on lease and restructuring charges even as higher prices and gains from its smokeless tobacco products helped bolster its sales. Revenue, excluding excise taxes, increased 5 percent.
THE BOSS: The owner of the nation's biggest cigarette maker, Philip Morris USA, also announced that CEO Michael E. Szymanczyk will retire in May. Altria's board has selected Martin J. Barrington to replace him as CEO and chairman.
CIGARETTES: Volumes were flat at 33.7 billion cigarettes compared with a year ago as an increase of nearly 20 percent in its discount cigarette brands offset declines in its premium brands. Its top-selling Marlboro brand lost 0.7 points of market share to end up with 41.6 percent of the U.S. market.
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