Philip Morris Int’l Inc. holds 2021 virtual annual meeting of shareholders

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Observer Report
Karachi

Philip Morris International Inc. has announced to appoint Jacek Olczak as Chief Executive Officer following the company’s 2021 Annual Shareholders Meeting.

Mr. Olczak most recently the company’s Chief Operating Officer was also elected to the Board of Directors.

André Calantzopoulos, who served as PMI’s Chief Executive Officer from 2013, was appointed Executive Chairman of the Board prior to the meeting.

Mr. Lucio Noto stepped down from his role as interim Chairman of the Board and was reelected to the Board of Directors.

The appointments follow the announcement of PMI’s leadership transition in December 2020. When determined, PMI will announce the name of the Lead Independent Director on its website.

In accepting his appointment as CEO, Mr. Olczak committed to accelerating PMI’s smoke-free transformation, announced in 2016.

The company is focused on developing, scientifically substantiating, and responsibly commercializing smoke-free products that are less harmful than smoking, with the aim of replacing cigarettes as soon as possible.

Mr. Olczak said: “I am humbled and excited to lead PMI as we accelerate our transformation into a smoke-free company.

PMI is an industry leader in scientific innovation, and our ambition is that more than half of our net revenues will come from smoke-free products in 2025.

Our evolving portfolio will drive our long-term future. We will lean into our scientific research and expertise, using our collective skills.

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