The Great Theo Folz Steps Down After Decades of Service to the Industry He Loved
July 14, 2009 – Ft. Lauderdale, FL – Altadis U.S.A. announced today that Theo Folz, the company’s President and CEO, will be retiring on September 30, 2009. He joined the company twenty-five years ago and has been in the industry 46 years.
With such legendary company brands as Montecristo, Romeo y Julieta, Dutch Masters, Phillies and Backwoods to name just a few, Folz has lead Altadis U.S.A. to a premier position in the cigar business with unprecedented sales and earnings levels. Highly respected and regarded through out the entire tobacco industry, he is known as an icon.
Folz has made a huge contribution in making Altadis U.S.A.’s cigar business the force that it is today. He has been a dominant figure in the history of the U.S. and indeed the worldwide cigar industry. Theo and his wife, Connie, look forward to global travel, fine food and wine and enjoying their sport fishing boat. Folz says, “It has been an honor to be a part of such a vibrant and historic industry.”
He will be succeeded as President and CEO on October 1, 2009 by Gary Ellis, currently CFO, who has been with the company for over twenty years.
July 16th, 2009 at 11:40 am
Hey, I’m glad the guy made a lot of money selling cigars! But what was the service? Did he organize the industry to defend the right to smoke SOMEWHERE? Did he donate a lot of time to the trade organizations?
I’m glad he made money and Altadis USA didn’t go bankrupt or require a government bailout. Well, I guess I think he’s a hero, after all!