WITCO changes gears for the future

DESPITE growing anti-tobacco sentiments around the world, local-based West Indian Tobacco Company (WITCO) is looking forward to future growth and productivity, according to managing director Anthony E Phillip. Speaking at the company’s 100th anniversary function held at WITCO Sport Grounds Champs Fleurs, on Thursday night, Phillips stated his firm belief that, “Our first 100 years have built for us a solid foundation for continued growth and productivity.”

Phillip was addressing a large gathering that included officials from its parent company British American Tobacco Company, WITCO’s Board of directors, management, staff and guests. He said, “We recognise the controversial nature of our industry and the growing challenges that the future holds. We believe that a responsible tobacco company in the 21st century must find a way to balance its primary objective, which is to build long-term shareholder value by meeting consumers’ preferences for high quality tobacco products, with a larger objective — that of understanding and responding to the expectations of a broader range of stakeholders.” As a result of anti-tobacco sentiments in many countries around the world, laws have been passed banning smoking in public places and circumventing advertisement that target minors.

To date, the tobacco industry has paid out millions of dollars in lawsuits to persons who claimed that using tobacco products affected their health. The WITCO chief executive said back in 2001, the company voluntarily introduced a code of marketing practices in keeping with international marketing standards, that ceased advertising of its products in the electronic and print media, saw the size of the health warnings on its cigarette packs increased, and removed all outdoor advertising materials within 100 metres of schools. Additionally, WITCO had to relinquish its sponsorship of this country’s premier sports awards ceremony (WITCO Sports Awards), its prized sporting collection called the WITCO Sports Exhibition, and end its financing of the prestigious du Maurier Great Race.

The company has, however, maintained its long running sponsorship of legendary Laventille-based steel orchestra WITCO Desperadoes.
Within recent times, the company has increased its support for local culture and tertiary education with its sponsorship of Indefest and backing of the University of the West Indies Guest Lectureship Series.