Las Vegas-Based CBD Cigarette Maker Appoints Philip Morris Strategist as New CEO
- Taat Lifestyle & Wellness Ltd. has appointed former Philip Morris strategist Setti Coscarella as their new CEO.
- Coscarella has several years of financial and managerial experience through his time working with Philip Morris and other major Canadian financial institutions.
- Coscarella was appointed the position of CEO only a few months before Taat’s planned launch of their new CBD-containing cigarettes, known as Beyond Tobacco.
Taat Lifestyle & Wellness Ltd., a Las Vegas company with plans to launch a new brand of CBD-containing cigarettes later in 2020, has named a former Philip Morris strategist their new Chief Executive Officer (CEO).
In a statement released by the company, it was announced that Setti Coscarella will be given the CEO position due to his financial and managerial experience along with his knowledge of the tobacco industry through his time serving as a lead strategist for the cigarette company Philip Morris.
“Becoming CEO of Taat is an incredible opportunity for me,” Coscarella stated in the company’s announcement.
At Philip Morris, Coscarella was in charge of a commercialization team in Toronto. He also served as a strategist for Reduced Risk Products, which was a category in the tobacco industry that is seeing immense growth as the industry tries to provide safer alternatives for cigarette smokers.
Coscarella also worked as an analyst and had investment banking roles in three of the “Big Five” financial institutions of Canada: CIBC and TD Securities along with Scotiabank.
“What appealed to me about Taat is how they have developed Beyond Tobacco™ to be a cigarette alternative that is designed to emulate a tobacco cigarette, but without any tobacco or nicotine,” Coscarella stated.
“I am very eager to be in the driver’s seat of Taat as we approach the planned launch of Beyond Tobacco in Q4 2020.”
Taat’s Beyond Tobacco cigarettes, which are made of hemp, are set to launch sometime in Q4 of this year. Each cigarette is said to contain “a minimum of 50mg of CBD” and 0.3% or less of THC. They are being marketed as cigarette alternatives that give smokers the chance to reduce their tobacco withdrawals and eliminate their nicotine consumption.
The exact date of their launch has not been publicly shared, but it was reassured that they would be available for purchase sometime near the end of 2020.