LAUSANNE, Switzerland–(BUSINESS WIRE)–Philip Morris Worldwide Inc. (PMI) (NYSE: PM) as we speak introduced a long-planned management succession, which will probably be accomplished in Might 2021. PMI’s present Chief Govt Officer, André Calantzopoulos, was appointed Govt Chairman of the Board, to take impact instantly previous to the Annual Assembly of Shareholders in Might 2021. For private causes, the present Chairman, Mr. Louis Camilleri, expressed his need to retire as of the day of this announcement. Consequently, Mr. Lucio Noto, PMI’s impartial Presiding Director, will function interim Chairman till the succession of Mr. Calantzopoulos in Might. PMI’s present COO, Jacek Olczak, will succeed Mr. Calantzopoulos as Chief Govt Officer instantly after the Might assembly. It’s anticipated that Mr. Olczak will even be nominated for election to the Board of Administrators on the assembly. Mr. Olczak has served as PMI’s Chief Working Officer since January 2018 and served as Chief Monetary Officer from August 2012 by December 2018.
This deliberate succession guarantees a seamless transition and continuity of management. Messrs. Camilleri, Calantzopoulos, and Olczak have labored carefully collectively since PMI grew to become an impartial firm. They share a single strategic imaginative and prescient, and below their mixed management, PMI has marked vital achievements, together with its enterprise transformation and indeniable management within the smoke-free product class.
Louis Camilleri stated: “I’m delighted handy over the Chairman of the Board position to André following his resolution to relinquish his CEO duties. I’m equally delighted to see Jacek named to the helm of the corporate as of Might 2021. He’s a worthy successor to André, given his observe document with PMI and his management qualities. Considering my 40-year PMI profession, it has been an unlimited privilege to serve this excellent firm, its Board, its staff, and its shareholders. I wish to wholeheartedly thanks all for this superb journey that has made PMI the main and most progressive tobacco firm on this planet. I’m stepping down with the agency perception that the corporate is in nice fingers to perform its smoke-free imaginative and prescient.”
Talking on behalf of the Board of Administrators, Lucio Noto stated: “The choices introduced as we speak are the results of a rigorous and well-executed multi-year succession plan and are a transparent demonstration of how nicely our firm is ruled. The Board is assured that below Jacek’s and André’s management and steerage, PMI will proceed to innovate, prosper, and improve shareholder worth. I do know I communicate for all of us in expressing my profound gratitude to Louis for his monumental dedication and his super contributions to our firm all through his stellar profession. The members of the Board will all miss him dearly.”
André Calantzopoulos stated: “It’s an honor to observe within the footsteps of our Chairman and former CEO, Louis Camilleri. On behalf of the PMI management, I wish to specific our profound appreciation for his superb contributions to the success of our firm and for his management, steerage, devotion, and, above all, humanity. Past the unmatched government, we are going to all miss an impressive individual and a good friend.”
Mr. Calantzopoulos continued: “Throughout my seven years as CEO, we’ve positioned PMI for the long run and created higher, science-based choices for these adults who would in any other case proceed to smoke. We now have the world’s main product portfolio in each flamable and smoke-free merchandise, an impressive administration crew, and a high-performing, fast-learning group the world over. We’re completely poised for continued success. I’m very happy handy over the CEO duty to Jacek. Having labored carefully with Jacek for many years, I do know nicely that his ardour for the corporate and our staff, drive for outcomes, and deep data of our merchandise, methods, values, and traders make him the perfect chief to make sure the continued development of our enterprise and to ship shareholder worth.
“I wish to specific my gratitude to our Board, senior executives, staff, enterprise companions, and shareholders for his or her assist all through my government profession. You have got been a useful supply of inspiration and power, and I really feel honored that I had the chance to work alongside all of you.”
Jacek Olczak commented: “I’m humbled to have the chance to guide PMI. Working alongside André on PMI’s transformation, we’ve constructed the capabilities to proceed delivering the unsmoke imaginative and prescient and past. I’m dedicated to persevering with to work with André in his new position and with all the crew at PMI to ship on the large enterprise alternative of a smoke-free future, to the advantage of our customers, shareholders, and society.”
Mr. Olczak, 55, has loved a protracted profession with Philip Morris. He joined the corporate in 1993 and labored in finance and common administration positions throughout Europe, together with as Managing Director of PMI’s markets in Poland and Germany and as President of the European Union Area earlier than his appointment as CFO of PMI in 2012. He holds a grasp’s diploma in economics from the College of Lodz, Poland.
The Board of Administrators has additionally nominated a brand new director, Michel Combes, efficient instantly.
Mr. Combes, a French businessman, is president of SoftBank Group Worldwide and oversees a number of Softbank portfolio firms. He was Chief Monetary Officer after which CEO and a member of the board of administrators of Dash, CEO of Vodafone Europe, CEO of Alcatel-Lucent, CEO and Chief Working Officer of Altice, and Chairman and CEO of SFR Group. Prior, he held a number of positions inside French ministries, at France Telecom (together with Senior Vice President and Chief Monetary Officer), and at TDF (Télédiffusion de France).
Philip Morris Worldwide: Delivering a Smoke-Free Future
Philip Morris Worldwide (PMI) is main a change within the tobacco business to create a smoke-free future and in the end substitute cigarettes with smoke-free merchandise to the advantage of adults who would in any other case proceed to smoke, society, the corporate, and its shareholders. PMI is a number one worldwide tobacco firm engaged within the manufacture and sale of cigarettes, in addition to smoke-free merchandise and related digital gadgets and equipment, and different nicotine-containing merchandise in markets outdoors the U.S. As well as, PMI ships a model of its IQOS Platform 1 machine and its consumables to Altria Group, Inc. on the market below license within the U.S., the place the U.S. Meals and Drug Administration (FDA) has licensed their advertising and marketing as a modified threat tobacco product (MRTP), discovering that an publicity modification order for these merchandise is suitable to advertise the general public well being. PMI is constructing a future on a brand new class of smoke-free merchandise that, whereas not risk-free, are a a lot better alternative than persevering with to smoke. By way of multidisciplinary capabilities in product improvement, state-of-the-art services, and scientific substantiation, PMI goals to make sure that its smoke-free merchandise meet grownup shopper preferences and rigorous regulatory necessities. PMI’s smoke-free product portfolio contains heat-not-burn and nicotine-containing vapor merchandise. As of Sept. 30, 2020, PMI estimates that roughly 11.7 million grownup people who smoke around the globe have already stopped smoking and switched to PMI’s heat-not-burn product, out there on the market in 61 markets in key cities or nationwide below the IQOS model. For extra data, please go to www.pmi.com and www.pmiscience.com