Manufacturing: TOM HAYES
PRESIDENT, U.S. DIVISION, SWEDISH MATCH, RICHMOND
Hayes has worked at Swedish Match since 2006 and was promoted to group chief financial officer in 2018. In August 2020, he took over as president after Richard Flaherty retired.
Swedish Match’s U.S. Division is based in Richmond, while Swedish Match AB is based in Stockholm. The company develops, manufactures and sells smoke-free oral tobacco products that have a lower risk of mouth cancer, heart disease and lung cancer than cigarettes, according to the FDA. Its brands include Zyn, White Owl and Cricket.
Swedish Match generates around 67% of its revenue from smoke-free products, including snus and nicotine pouches. The company’s manufacturing operations are in seven countries, with most of its sales coming from the U.S. and Scandinavia.
In 2021, Swedish Match delivered double-digit growth in sales, driven by its smoke-free division in the U.S., its largest market, and its main product, the Zyn nicotine pouch. In May, Philip Morris International Inc. made a $16 billion offer to acquire Swedish Match. It’s on the table until Oct. 21, pending review by the European Commission.