From Big Tobacco to Beyond Tobacco Ex-Philip Morris Strategist Appointed CEO of Taat

Nachrichtenquelle: globenewswire
03.08.2020, 13:00  |  288   |   |   

After resigning as a lead strategist at Philip Morris International, the world’s largest tobacco company, Setti Coscarella has been appointed Chief Executive Officer of Taat as it approaches the planned launch of Beyond Tobacco cigarettes. At Philip Morris, Coscarella led a commercialization team for its Reduced Risk Products (“RRP”) portfolio and launched a new business unit as well as several initiatives that transformed how RRPs are marketed in Canada. The Company believes that Coscarella’s experience with RRPs is especially relevant to Beyond Tobacco given their substantially similar target markets. Over the course of this summer, Taat has announced many developments relating to Beyond Tobacco including positive results from initial retail market testing, a successful test production run, and agreements with two U.S. distributors. Taat anticipates that Mr. Coscarella’s leadership can maximize the early-stage and long-term performance of Beyond Tobacco following its planned launch.

LAS VEGAS and VANCOUVER, British Columbia, Aug. 03, 2020 (GLOBE NEWSWIRE) -- TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTC: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “Taat”) is delighted to announce that it has appointed Setti Coscarella, who recently resigned as a lead strategist at Philip Morris International (“Philip Morris”), to lead Taat as its Chief Executive Officer as the Company prepares for the planned Q4 2020 launch of Beyond Tobacco cigarettes. Holding an MBA from the Schulich School of Business, Mr. Coscarella’s professional experience includes analyst and investment banking roles at three of Canada’s “Big Five” financial institutions, as well as positions in private equity and management consulting. Coscarella also co-founded The Gentlemen’s Expo (“TGE”), an annual consumer show in Toronto that attracts more than 25,000 attendees each year. During his tenure at Philip Morris, Coscarella led a commercialization team and was a lead strategist for Reduced Risk Products (“RRP”), an emerging category in the tobacco industry to provide alternatives for smokers to reduce their exposure to contents of traditional nicotine-based products that are known to be harmful. The Company believes that Mr. Coscarella is uniquely suited to the CEO role given his proven track record in finance, management, and entrepreneurship, as well as his familiarity with the tobacco industry from the perspective of its biggest player.

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