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California State Senator Bob Wieckowski’s bill (S.B. 1400) faltered
before reaching the California Assembly Business and Professions
Committee. The bill would have changed the definition of a retail
location that’s able to obtain a license to sell tobacco to businesses
that generate 60 percent or more of gross revenue annually
from tobacco-related products. In effect, the legislation would
have made c-stores and grocery stores ineligible to sell tobacco
products.
The bill, which passed the Senate, but failed to receive a crucial
support motion, was widely protested by retailers. Many protested
vigorously, noting that the bill went too far and that being restricted
from selling tobacco products would have decimated their
businesses, which rely heavily on both the profits and traffic that
selling tobacco brings. Committee members apparently agreed to
let it fade away.
California Ban on
Selling Tobacco Falters
An effort to restrict the sale of tobacco
products to 18-and-over cigar shops has failed.
New CFO for Nicopure
Nicopure Labs has appointed Jim Caci
as chief financial officer.
Jim Caci, newly appointed CFO of Nicopure Labs, will be
responsible for managing the strategy and growth of fiscal
functions and operations at the Tampa, Florida-based company,
a leading e-liquid manufacturer.
“I have become familiar with the Nicopure team over the last
several years and have been impressed with their leadership
position and success in the vaping industry,” says Caci, who
previously held the CFO post at Conductor and Avepoint. “As
the industry continues to grow and go through major changes,
I’m thrilled to be joining Nicopure at such an exciting time and
applying all that I have learned throughout my career to help
contribute to the company’s long-term success.”
Caci will focus on developing performance measures and
implementing tactical initiatives that support the strategic goals
and long-term growth of the company.
“Jim has earned himself a reputation globally as a financial
operations expert in the technology industry,” says Jeff
Stamler, CEO at Nicopure Labs. “His professional know-how
is the ideal match for our company’s relentless expansion and
our commitment to maintaining high standards in all aspects of
our business.
“Jim’s experience as the head of finance for two publicly held
technology companies will give us a competitive advantage
and unique insight [so] we [will be] prepared for all possibili-
ties,” Stamler adds.
$5.87
Average Price
of a Package of
Cigarettes in
the U.S.
Source: RBC Capital Markets
10
TOBACCO BUSINESS INTERNATIONAL
JULY/AUGUST 2016
NEWS & TRENDS
JULY/AUGUST 2016