Philip Morris International Reveals Leadership Succession Plan

0
605
Philip Morris International Reveals Leadership Succession Plan

Philip Morris International (PMI), Inc. has announced a long-planned leadership succession plan that will be completed by May 2021. In a press release, PMI revealed that its current Chairman, Louis Camilleri, would be retiring and would be succeeded by the company’s current CEO, André Calantzopoulos. With this change, Lucio Noto, who serves as PMI’s independent presiding director, will serve as interim chairman until the succession plan is complete in May of next year. PMI’s succession plan will help ensure a seamless transition and continuity of leadership in the months to come.

As part of the succession plan, PMI’s current chief operating officer, Jacek Olczak, will succeed Calantzopoulos as CEO immediately following the annual meeting of shareholder in May 2021. The company also expects Olzcak to be nominated for election to PMI’s board of directors at that same meeting. Olczak has served as PMI’s chief operating officer since January 2018 and served as its chief financial officer from August 2012 through December 2018. Olczak first joined PMI in 1993 and worked in finance and general management positions across Europe, including serving as PMI’s managing director of PMI’s markets in Poland and Germany and as President of the European Union Region before his appointment as CFO in 2012.

Camilleri, the current CEO, released the following statement in regards to PMI’s succession plan: “I am delighted to hand over the Chairman of the Board role to André following his decision to relinquish his CEO responsibilities. I am equally delighted to see Jacek named to the helm of the company as of May 2021. He is a worthy successor to André, given his track record with PMI and his leadership qualities. Contemplating my 40-year PMI career, it has been an enormous privilege to serve this wonderful company, its Board, its employees, and its shareholders. I want to wholeheartedly thank you all for this amazing journey that has made PMI the leading and most progressive tobacco company in the world. I am stepping down with the firm belief that the company is in great hands to accomplish its smoke-free vision.”

Speaking on behalf of PMI’s board of directors, Noto added: “The decisions announced today are the result of a rigorous and well-executed multi-year succession plan and are a clear demonstration of how well our company is governed. The Board is assured that under Jacek’s and André’s leadership and guidance, PMI will continue to innovate, prosper, and enhance shareholder value. I know I speak for all of us in expressing my profound gratitude to Louis for his enormous dedication and his tremendous contributions to our company throughout his stellar career. The members of the Board will all miss him dearly.”

André Calantzopoulos said: “It is an honor 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 unrivaled executive, we will all miss an outstanding person and a friend.”