“The changes we announce today are a step further in our transformation of Scandinavian Tobacco Group,” commented Niels Frederiksen, CEO of STG. “They impact most parts of our organization as we build a more competitive and profitable business with a powerful brand portfolio, strong market positions and robust supply chains. It is an investment in our future and addresses the need for continuous optimization to remain competitive and succeed in tough market conditions. Regrettably, the changes also necessitate that we part ways with a number of hard-working and valued colleagues. I would like to thank everyone of them for their efforts and dedication over the years.”
Due to the COVID-19 pandemic, STG has suspended its financial guidance for the year due to the uncertainty and lack of predictability brought on by the coronavirus. STG has said that it will provide an update on the financial guidance for 2020, including Royal Agio Cigars, as soon as the negative impact of COVID-19 on its business can be properly looked at.
You can read STG’s full press release regarding the Royal Agio Cigars integration and changes by clicking here. For all the latest news from Scandinavian Tobacco Group, visit st-group.com.
 has completed its integration of Royal Agio Cigars and laid out its plan going forward to optimize and consolidate its business.){kind=link}