University Chancellor Sells Tobacco Stock

June 29, 2010

Susan Desmond-Hellmann is selling her tobacco stock. Desmond-Hellmann is the new chancellor of the University of California at San Francisco, a medical institution that is home to researchers who have been leading critics of the tobacco industry. The New York Times reported that her disclosure forms for her new position indicated that she had personal stock holdings of between $100,000 and $1 million in Altria, the owner of Philip Morris. A day after the Times asked about the issue, she announced that she would sell the holdings. “I’d been focused on compliance, dutifully writing down every stock,” she told the Times, “and we didn’t focus on what are the stocks in our holdings and what message does that give to people who care about your values.”

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