Change of guard at Philip Morris International

11 Dec, 2020 - 12:12 0 Views
Change of guard at Philip Morris International

The Sunday Mail

Business Reporter

Philip Morris International (PMI) – one of the world’s biggest tobacco companies – on Thursday announced “a long-planned succession” through the appointment of current chief executive officer, André Calantzopoulos, as executive chairman of the board.

He replaces Mr Louis Camilleri, who “expressed his desire to retire”.

PMI’s independent presiding director, Mr Lucio Noto, will serve as interim chair until the succession in May 2021 prior to the Annual Meeting of Shareholders.

Current chief operating officer (COO), Mr Jacek Olczak, will succeed Mr Calantzopoulos as CEO immediately after the May meeting.

It is anticipated that Mr Olczak – who has served as COO since January 2018 and as chief financial officer from August 2012 through December 2018 – will also be nominated for election to the board of directors at the meeting.

“This planned succession promises a seamless transition and continuity of leadership,” said the company in a statement Friday.

André Calantzopoulos said: “It is an honour to follow in the footsteps of our chairman and former CEO, Louis Camilleri. On behalf of the PMI leadership, I would like to express our profound appreciation for his amazing contributions to the success of our company and for his leadership, guidance, devotion, and, above all, humanity. Beyond the unrivalled executive, we will all miss an outstanding person and a friend.”

PMI is presently leading a transformation in the tobacco industry to create a smoke-free future and ultimately replace cigarettes with smoke-free products to the benefit of adults who would otherwise continue to smoke

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